UPDATE: Truist Securities Upgrades NextCure Inc. (NXTC) to Buy on Better Comeback Plan
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(Updated - March 5, 2021 6:55 AM EST)
Truist Securities analyst Asthika Goonewardene upgraded NextCure Inc. (NASDAQ: NXTC) from Hold to Buy with a price target of $19 (from $13).
The analyst commented, "Updates from NXTC's R&D day were very constructive in our view, and in totality, it gives us what we need to be positive on NC318 again. We believe NC318 will be active in a subset of patients across 3 tumor types - the key one being NSCLC. While the addressable market for NC318 may be smaller than what we originally forecasted, we see paths to pivotal trials (re)emerging in the next 9-15 months. Further, pipeline assets NC410 (LAIR-1) and debutant NC762 (B7-H4) have initial data in 4Q21 and mid-22, respectively, and are essentially free money (not in our valuation)."
Shares of NextCure Inc. closed at $11.39 yesterday.
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