Aura Biosciences initiated with an Outperform at Scotiabank

Scotiabank analyst George Farmer initiated coverage of Aura Biosciences with an Outperform rating and $23 price target. The biotechnology company is developing novel therapeutics for high-unmet-need oncology indications and the firm recommends buying shares to capture the value potential of its lead asset belzupacap sarotalocan, or bel-sar, for the treatment of potentially lethal choroidal melanoma. The firm thinks early indications of efficacy with incomparable safety “bode well for Phase 3 success and ultimate marketing approval,” the analyst tells investors.