Elicio Therapeutics initiated with a Buy at Rodman & Renshaw

Rodman & Renshaw analyst Michael King initiated coverage of Elicio Therapeutics (ELTX) with a Buy rating and $17 price target ELI-002 represents “a paradigm shift in mKRAS immunotherapy,” says the analyst, who notes that the firm’s price target reflects a sum-of-the-parts valuation based on commercial opportunities in mKRAS-driven pancreatic and colorectal cancer as well as additional value from pipeline assets targeting BRAF and p53 mutations.