Citizens analyst Jason Butler initiated coverage of Avalo Therapeutics (AVTX) with an Outperform rating and $52 price target The company is developing abdakibart with an optimized pharmacological profile for inflammatory diseases, the analyst tells investors in a research note. The firm views the Phase 2 LOTUS study evaluating abdakibart in adults with moderate-to-severe hidradenitis suppurativa as a “transformational catalyst” in Q2. Citizens has confidence in the study’s success and projects peak sales of $2.5B by 2035.
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