Quince Therapeutics initiated with an Outperform at Oppenheimer

Oppenheimer analyst Leland Gershell initiated coverage of Quince Therapeutics (QNCX) with an Outperform rating and $10 price target ahead of the Phase 3 results in ataxia-telangiectasia, a rare, fatal pediatric neurodegenerative disorder that the firm says lacks approved therapies. The analyst sees a $1B-plus global opportunity for Quince’s lead candidate EryDex and projects $200M in 2031 U.S. sales. Opco says its “enthusiasm” for the drug’s development and commercial success is driven by key opinion leader checks, prior clinical data, and a pivotal design it sees as “heavily derisked.”