UPDATE: Jefferies Starts POINT Biopharma Global Inc. (PNT) at Hold
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Jefferies analyst Chris Howerton initiates coverage on POINT Biopharma Global Inc. (NASDAQ: PNT) with a Hold rating and a price target of $8.00.
The analyst commented, "Radiopharmaceuticals have been promising therapies, but difficult CMC/logistics have hampered commercial adoption. We like PNT's optimized CMC capabilities to address these challenges, but see value as short-lived and clin. programs un-differentiated from NVS (Buy) that are years ahead. We exp. lead asset '2002 approved in mCRPC but w/ limited adoption due to competition. Key catalyst is Ph3 '2002 data for mCRPC in '23. Initiate at Hold w/ a 12-month PT of $8."
Shares of POINT Biopharma Global Inc. closed at $8.82 yesterday.
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