BTIG analyst Kaveri Pohlman initiated coverage of Ambrx Biopharma with a Buy rating and $26 price target. Ambrx is a clinical-stage oncology company focused on the development of highly optimized therapeutics, the analyst tells investors in a research note. The firm says the company’s lead asset, ARX517, is being developed for metastatic castration-resistant prostate cancer, an area of high unmet need. Ambrx has a strong cash position to drive both its programs swiftly through the clinic, contends BTIG.
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