Magenta Therapeutics initiated with an Outperform at Raymond James. Raymond James analyst Dane Leone initiated Magenta Therapeutics with an Outperform rating and a price target of $22. The analyst has three key reasons for recommending the stock: First, MGTA-456 has produced encouraging clinical results and “has an opportunity to significantly increase the utilization of cord blood units within transplant procedures.” Second, MGTA-145 has the potential to improve patient outcomes and reduce costs associated with stem cell mobilization. Third, C200 can help alleviate a key headwind for the adoption of cell-based gene therapy.
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