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SVB Leerink Sees Over 600% Upside For This Penny Biotech Stock

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  • SVB Leerink initiated Selecta Biosciences Inc (NASDAQ: SELB) coverage with an Outperform rating and a price target of $7.

  • The analysts view ImmTOR's approach to mitigate ADAs as de-risked by early clinical data from SEL-212 and believe that the ability to tame the immune response bodes well for ImmTOR's clinical potential in combination with gene and autoimmune therapies.

  • SVB sees near-term upside potential with lead candidate SEL-212 for chronic refractory gout. Pivotal trial data readout is expected in 1Q 2023.

  • Related: Selecta's Gene Therapy Trial For Genetic Metabolic Disorder Put On FDA Hold.

  • The analyst also notes its gene therapy SEL-302 for methylmalonic acidemia (MMA) with Phase 1 trial expected to start in 2H 2022, with data expected to be reported on a patient-by-patient basis.

  • Although shares are currently trading <$1/share, analysts see a low risk of de-listing based on the upcoming catalysts and surrounding rules.

  • "In our view, SELB represents an attractive buying opportunity for investors looking for an undervalued name with a low EV, de-risked late-stage clinical candidate, near-term news flow, and de-risked platform technology that supports long-term upside potential." SVB writes.

  • Price Action: SELB shares are up 7.31% at $0.95 during the market session on the last check Monday.

Latest Ratings for SELB

Date

Firm

Action

From

To

Nov 2021

Needham

Maintains

Buy

Jun 2021

BTIG

Initiates Coverage On

Buy

Mar 2021

William Blair

Upgrades

Market Perform

Outperform

View More Analyst Ratings for SELB

View the Latest Analyst Ratings

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