SVB Leerink Sees Over 600% Upside For Selecta

 

• SVB Leerink initiated Selecta Biosciences Inc 
  SELB+13.1%+ Free Alerts
   coverage with an Outperform rating and a price target of $7.
• The analysts view ImmTOR's approach to mitigate ADAs as de-risked by early clinical data from SEL-212 and believe that the ability to tame the immune response bodes well for ImmTOR's clinical potential in combination with gene and autoimmune therapies. 
• SVB sees near-term upside potential with lead candidate SEL-212 for chronic refractory gout. Pivotal trial data readout is expected in 1Q 2023.
• The analyst also notes its gene therapy SEL-302 for methylmalonic acidemia (MMA) with Phase 1 trial expected to start in 2H 2022, with data expected to be reported on a patient-by-patient basis. 
• Although shares are currently trading <$1/share, analysts see a low risk of de-listing based on the upcoming catalysts and surrounding rules. 
• "In our view, SELB represents an attractive buying opportunity for investors looking for an undervalued name with a low EV, de-risked late-stage clinical candidate, near-term news flow, and de-risked platform technology that supports long-term upside potential." SVB writes.

https://www.benzinga.com/analyst-ratings/analyst-color/22/06/27573199/svb-leerink-sees-over-600-upside-for-this-penny-biotech-stock