Baird Starts Lyell Immunopharma (LYEL) at Outperform

Baird analyst Jack Allen initiates coverage on Lyell Immunopharma (NASDAQ: LYEL) with a Outperform rating and a price target of $49.00.

The analyst comments "Initiating coverage with an Outperform rating and $49 price target. Lyell's pipeline is headlined by ronde-cel, an autologous CD19/CD20 CAR-T in LBCL, for which a pair of pivotal studies are ongoing. Based on the existing data we believe ronde-cel's safety/efficacy profile compares favorably to established autologous CD19 CAR-Ts (Breyanzi and Yescarta), which should allow for ronde-cel to start to gain meaningful market share (~2.5B+/year market). Beyond ronde-cel, Lyell's colorectal cancer CART program, LYL273, provides a nice upside call option on solid tumors with multiple data updates expected later this year."

For an analyst ratings summary and ratings history on Lyell Immunopharma click here. For more ratings news on Lyell Immunopharma click here.

Shares of Lyell Immunopharma closed at $20.60 yesterday.

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