Selecta Biosciences (SELB) PT Lowered to $12 at Needham & Company

Needham & Company analyst Chad Messer lowered the price target on Selecta Biosciences (NASDAQ: SELB) to $12.00 (from $28.00) while maintaining a Buy rating.

Messer calculates that Selecta is funded at least through a 6-month interim from a head-to-head superiority study of SEL-212 against Krystexxa in 4Q. Messer believes this study should address investor concerns over efficacy which have lingered despite data that supports a superior profile.

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