Stifel Assumes Lumos Pharma (LUMO) at Buy
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Stifel analyst Derek Archila assumes coverage on Lumos Pharma (NASDAQ: LUMO) with a Buy rating and a price target of $24.00.
The analyst comments "We think the premise of an oral therapy for pediatric growth hormone deficiency (PGHD) vs. an injectable one is enticing and think LUM-201, an oral GH secretagogue, could offer PGHD patients with a functioning HP-GH axis this benefit. We like management's patient enrichment approach for enrolling the ongoing Ph2 study, expected to read out in mid-2022, and responses rivaling that of daily injectable rGH we think is enough to confirm this approach in a subsequent Ph3 trial. With the stock effectively trading at cash, we think it reflects investor concerns around LUM-201's long history when developed by MRK. Our review of the available data gets us comfortable on LUM-201's potential efficacy in PGHD based on relevant biomarkers associated with GH levels and that most safety issues were seen in elderly patients. We think shares trade up ahead of results next year and would be buyers at these levels."
Shares of Lumos Pharma closed at $13.25 yesterday.
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