Wells Fargo raised the firm’s price target on Gracell (GRCL) to $10 from $7 and keeps an Overweight rating on the shares. The firm sees the proposed acquisition of Gracell by AstraZeneca (AZN) as a win-win, greatly accelerating value creation from GC012F in multiple myeloma and systemic lupus erythematosus, and providing the latter with key presence in cell therapy with a differentiated CAR-T platform.
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