Baird initiated coverage of Vaxxinity with an Outperform rating and $7 price target. Vaxxinity is developing vaccines for the prevention and treatment of common chronic diseases and its Parkinson’s disease vaccine UB-312 showed target engagement in vivo in humans, the analyst tells investors in a research note. The firm says the Phase 1 LDL-lowering data coming in early 2024 “could help further de-risk” the company’s platform. In addition, the partnering of UB-311 and/or UB-312 could provide meaningful share upside over the coming months, contends Baird.
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