Ladenburg upgraded Evaxion Biotech to Buy from Neutral with an $8 price target following the Q4 report. The analyst cites the company’s proprietary technology platform’s intrinsic value and potential for the upgrade. Evaxion’s Pioneer platform has generated compelling clinical data and the Merck collaboration and equity investment validate the potential of the technology, the analyst tells investors in a research note. The firm says the company has multiple proof of concept readouts in 2024.
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