Ascentage Pharma initiated with an Overweight at Piper Sandler

Piper Sandler analyst Biren Amin initiated coverage of Ascentage Pharma (AAPG) with an Overweight rating and $48 price target The company’s two approved assets in China are now under evaluation in the U.S., the analyst tells investors in a research note. Piper projects $1.9B and $1B in peak risk-adjusted global revenues for olverembatinib and lisaftoclax, respectively.