Agomab initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Agomab (AGMB) with an Overweight rating and $32 price target The company’s ontunisertib, an oral gut-restricted inhibitor of ALK5, is targeting fbrostenosing Crohn’s disease, a high unmet need subset of Crohn’s disease with no approved therapies, the analyst tells investors in a research note. The firm says the 12-week Phase 2a data showed “encouraging” signs of efficacy across multiple endpoints and clean safety in an advanced patient population.