Gritstone Oncology initiated at Raymond James

Gritstone Oncology initiated with an Outperform at Raymond James. Raymond James analyst Dane Leone initiated Gritstone Oncology with an Outperform rating and a price target of $20. The analyst has three key reasons for recommending the stock: First, GRANITE-001 will be a proof of concept regarding the anti-tumor effect of highly stimulated CD8+ T cells. Second, “development of the MHC Class II EDGE model balances the risks with the current reliance of CD8+ T cells within the GRANITE-001 and SLATE-001 programs.” Third, Leone believes the technical approach to neoantigen vaccine design that Gritstone is pursuing is “likely to be more effective than competitor efforts employing peptide vaccination approaches.”
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