Mizuho analyst Uy Ear lowered the firm’s price target on Selecta Biosciences to $4 from $5 and keeps a Buy rating on the shares. The analyst finds the top-line data from the pivotal DISSOLVE I/II trials for SEL-212 to treat chronic refractory gout supportive of regulatory filing and commercially competitive. The firm is surprised the stock was not up following the "promising data release, particularly the competitive safety profile. It continues to believe that SEL-212 is an "underappreciated asset," which could have a $500M- $1B U.S. sales opportunity.
Published first on TheFly
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Read More on SELB:
- Selecta Biosciences, Sobi announce DISSOLVE I and II meet primary endpoinr
- Phase 3 DISSOLVE Program of SEL-212 in Chronic Refractory Gout Meets Primary Endpoint
- Selecta Biosciences risk/reward favorable into data, says Mizuho
- Selecta Biosciences price target lowered to $5 from $8 at Mizuho
- Selecta Biosciences sees cash runway into mid-2024
