Adlai Nortye initiated with a Buy at Lucid Capital

Lucid Capital analyst Christopher Liu initiated coverage of Adlai Nortye (ANL) with a Buy rating and $11 price target Adlai is a clinical-stage biotechnology company focused on developing novel oncology therapies, the analyst tells investors in a research note. The firm believes thee company’s pan-RAS inhibitor, AN9025, could be a “significant potential value driver for shares as the asset becomes de-risked.”