LeonaBio initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of LeonaBio (LONA) with an Overweight rating and no price target The company’s lasofoxifene has been re-purposed for the treatment of ER+ metastatic breast cancer patients with ESR1 mutations and is “very potent against such mutations,” the analyst tells investors in a research note. Cantor’s valuation analysis features a 60% probability of success, which suggests LeonaBio shares might be more fairly valued at $15, contends the firm.