UPDATE: Jefferies Upgrades Evelo Biosciences Inc (EVLO) to Buy Ahead of Numerous Catalysts

(Updated - April 12, 2021 8:21 AM EDT)

Jefferies analyst Chris Howerton upgraded Evelo Biosciences Inc (NASDAQ: EVLO) from Neutral to Buy with a price target of $18.00 (from $11.00) noting that the company's key program '1815 and pipeline/technology platform all progressing broadly and there is mounting evidence that company's single strain microbe approach can significantly impact various inflammatory diseases.

The analyst stated "We like risk/reward heading into these major stock moving catalysts in less than 12 months. 2Q21: top-line data from two CV19 studies for '1815 (+~10-20% / -~5-10%). 3Q21: full data from Ph2 '1815 psoriasis study and data from Ph1b A2 tablet/capsule cohorts (+~50-100% / -~30-50%). 4Q21: interim data from Ph1b '1867 AD study (+~10-20% / -~5-10%). 1Q22: interim data from Ph2 '1815 AD study (+~50-100% / -~30-50%)".

For an analyst ratings summary and ratings history on Evelo Biosciences Inc click here. For more ratings news on Evelo Biosciences Inc click here.

Shares of Evelo Biosciences Inc closed at $10.02 yesterday.

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