NuCana shares ‘significantly undervalued,’ says Piper Jaffray

Piper Jaffray analyst Joseph Catanzaro is “incrementally more positive” around NuCana’s “ambitious” development strategy for the ProTide platform after speaking to management. The analyst continues to believe that clinical data presented to date have fully supported ProTide’s mechanism of action. Shares of NuCana are “significantly undervalued for the clear blockbuster potential” of NuCana’s two lead assets, Catanzaro tells investors in a research note. He maintains an Overweight rating on the shares and trimmed his price target to $35 from $36.
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