UPDATE: RBC Capital Starts Avalo Therapeutics Inc. (AVTX) at Outperform

(Updated - September 24, 2021 6:44 AM EDT)

RBC Capital analyst Gregory Renza initiates coverage on Avalo Therapeutics Inc. (NASDAQ: AVTX) with a Outperform rating and a price target of $6.00.

The analyst comments ": Initiating coverage with an Outperform, Speculative Risk rating and a $6 price target. We see AVTX’s lead anti-LIGHT mAb asset, AVTX-002, as a novel therapy in refractory moderate to severe IBD patients - we believe the preliminary data in Crohn's disease support its clinical potential, and look to full data from the ph.Ib trial for further validation in 2H2021, as well as additional data in 1H2022 to assess AVTX-002’s in UC. If successful, we see ~$1.2B WW sales potential starting as early as 2026 with added upside driven by prospects in ARDS. AVTX is also developing several programs for rare diseases with multiple readouts in 2H2021 to watch for POC, asset de-risking, and broader portfolio diversification."

For an analyst ratings summary and ratings history on Avalo Therapeutics Inc. click here. For more ratings news on Avalo Therapeutics Inc. click here.

Shares of Avalo Therapeutics Inc. closed at $2.46 yesterday.

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