Leerink assumed coverage of AbCellera (ABCL) with an Outperform rating and $5 price target The firm likes AbCellera’s pivot from being an antibody discovery platform company to developing their own internal pipeline, and it sees potential for ABCL575 in atopic dermatitis and ABCL635 in vasomotor symptoms. Both programs are up-and-coming agents with validated mechanisms in large commercial opportunities.
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Read More on ABCL:
- AbCellera Biologics Holds Annual Shareholder Meeting
- Unusually active option classes on open June 11th
- AbCellera Biologics Receives Health Canada Approval for Trial
- AbCellera receives Health Canada authorization to initiate ABCL575 Phase 1 trial
- AbCellera price target lowered to $10 from $28 at Truist