UPDATE: H.C. Wainwright Starts Celularity (CELU) at Buy

H.C. Wainwright analyst Swayampakula Ramakanth initiates coverage on Celularity (NASDAQ: CELU) with a Buy rating and a price target of $15.00.

The analyst comments "Placental-derived allogeneic cell therapy. Celularity is a clinical-stage biopharmaceutical company focused on developing allogeneic cell therapies as treatments for cancer, infectious diseases, and degenerative diseases. The company has developed the platform, IMPACT, to manufacture multiple types of cell therapies, such as NK cells and CAR-T cells, from placental cells by taking advantage of their superior stemness and safety profile. Currently, there are three clinical candidates, CYNK-001, an unmodified NK cell therapy for the treatment of AML and GBM, CYNK0101, an NK cell genetically modified to enhance its antibody-dependent cellular cytotoxicity for the treatment of advanced unresectable or metastatic HER2+ gastric cancer, and CyCART-19, a CD19-targeting chimeric antigen receptor (CAR)-T cell candidate, for the treatment of relapsed/ refractory CD19+ B-cell malignancies. We expect these cell therapy products to enter market in 2025 and grow to nearly $1.4B on a risk-adjusted basis by 2030. Additionally, the company manufactures and commercializes two placental-derived wound health products; Biovance and Interfyl, which we expect to grow to nearly $46M in 2030 from approximately $20M in 2022. We believe CELU at the current valuation of approximately $550M is undervalued considering the upside potential of the company’s platform and provides for an attractive entry point to long-term investors."

For an analyst ratings summary and ratings history on Celularity click here. For more ratings news on Celularity click here.

Shares of Celularity closed at $3.78 yesterday.

You May Also Be Interested In

• Raymond James Starts SpyGlass Pharma (SGP) at Outperform
• Raymond James Starts Polaryx Therapeutics (PLYX) at Strong Buy
• KinderCare Learning Companies (KLC) PT Lowered to $4.50 at UBS