SVB Leerink Sees Over 600% Upside For This Penny Biotech Stock
- Oops!Something went wrong.Please try again later.
- SELB
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
See more from Benzinga
Regulatory Update On Intercept Pharma's Obeticholic Acid For NASH Delayed Again
Johnson & Johnson-AbbVie Partnered Lymphoma Drug Slows Disease Progression, Data Shows
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.