Jasper Therapeutics initiated with an Outperform at Evercore ISI

Evercore ISI analyst Gavin Clark-Gartner initiated coverage of Jasper Therapeutics (JSPR) with an Outperform rating and $65 price target. Evercore ISI believes that Jasper’s briquilimab will have a roughly similar profile vs. Celldex’s (CLDX) barzovolimab, and potentially better dosing regimen, and will continue to close the valuation gap vs. Celldex, the analyst tells investors in a research note. In addition, Jasper is roughly 1-2 years behind Celldex and can use prior learnings to derisk the development path ahead, Evercore says.