Mizuho Starts Century Therapeutics (IPSC) at Outperform
Mizuho analyst Salim Syed initiates coverage on Century Therapeutics (NASDAQ: IPSC) with a Outperform rating and a price target of $8.00.
The analyst commented: "We are initiating coverage of Century Therapeutics with an Outperform (OP) rating and an $8 price target ==> Potentially Curative Cell Therapy for Type 1 Diabetes; Underappreciated Validation and Maturity for Its Stage. Why now? ~2 million people in the US live with T1D. While modern insulin replacement and glucose monitoring are life-sustaining, they serve only as daily management strategies rather than a cure. This leaves a critical unmet need, as patients face a relentless 24/7 burden of blood sugar tracking alongside the constant threat of life-threatening hypoglycemia (low blood sugar) and long-term complications, which can shorten life by 10+ years. Again, >20 years of data show cadaveric islet cell transplantation can functionally cure T1D. But this approach is not scalable and requires lifelong immunosuppression. Century (while potentially obtaining functional cure) is well-positioned to solve both problems. We base our $8 price target on a blended DCF (50%) / Discounted PE (50%) analysis and risk-adjusted sales; DCF: $8 w/ WACC of 14%, PE: $8, 20x 2034E EPS w/ WACC of 14%. We model through 2045 to capture all known IP."
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Shares of Century Therapeutics closed at $2.17 yesterday.