UPDATE: Morgan Stanley Starts Instil Bio Inc (TIL) at Equalweight
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(Updated - April 13, 2021 5:14 AM EDT)
Morgan Stanley analyst Vikram Purohit initiates coverage on Instil Bio Inc (NASDAQ: TIL) with a Equalweight rating and a price target of $24.00.
The analyst comments "Instil Bio's lead TIL product candidate ITIL-168 has generated encouraging early clinical data, and we estimate the therapy could generate $1B+ in risk-adjusted sales in melanoma. However, we believe current levels imply appropriate value for ITIL-168, and we await further clinical data updates."
Shares of Instil Bio Inc closed at $21.94 yesterday.
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