JMP Securities initiated coverage of Prelude Therapeutics with an Outperform rating and $7 price target. Prelude’s novel PROTAC-targeting SMARCA2 takes advantage of synthetic lethality, a well-understood phenomenon, which exploits the interdependence between two genes for survival, the analyst tells investors in a research note. The firm says its preclinical results showcase a promising novel target in the fight against cancer. It believes the shares have 51% potential downside and 120% potential upside.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PRLD:
- Prelude Announces Acceptance of Multiple Preclinical Abstracts at the 2024 AACR Annual Meeting
- Prelude Therapeutics to Participate in Barclays Global Healthcare Conference
- Prelude Therapeutics downgraded to Neutral from Buy at H.C. Wainwright
- New Accounting & Financial Operations Risk for Prelude Therapeutics, Inc. – What’s the Latest?
- Prelude Therapeutics files to sell 7.94M shares of common stock for holders