RBC Capital initiated coverage of Fusion Pharmaceuticals (FUSN) with an Outperform rating and $12 price target. Following the approval of Novartis’ (NVS) Pluvicto, an infusion of capital from strategic activity and company formation, and “validating M&A,” the firm views the radiopharmaceutical industry as “a growing bright spot in therapeutics.” In that context, the firm believes Fusion is competitively positioned based on its proprietary target alpha therapy platform, diverse pipeline and “deep radiopharma pedigree,” the analyst tells investors.
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