Jasper Therapeutics initiated with an Outperform at JMP Securities

JMP Securities analyst Silvan Tuerkcan initiated coverage of Jasper Therapeutics with an Outperform rating and $70 price target. Jasper is a clinical-stage biotechnology company developing novel therapeutics by focusing on the biology of the hematopoietic stem cell, the analyst tells investors in a research note. The firm says briquilimab represents a new biologic for a “well-established and derisked” target that is relevant to several pathologies with large, underserved patient populations. The company’s briquilimab is a “differentiated fast follower” in the KIT monoclonal antibody space that is well positioned with near-term readouts in several important indications, contends JMP.