Aktis Oncology initiated with an Outperform at Leerink

Leerink initiated coverage of Aktis Oncology (AKTS) with an Outperform rating and $31 price target The firm is positive on the Aktis story as the company aims to expand the target space for radiopharmaceuticals, and has the potential to be first-in-class with its pipeline programs. Both AKY-1189 and AKY-2519 address targets that represent potential blockbuster opportunities. They are also both addressing targets that have some level of de-risking given advances made in the antibody-drug conjugate space, Leerink adds.