Y-mAbs Therapeutics initiated with a Buy at Truist

Truist initiated coverage of Y-mAbs Therapeutics with a Buy rating and $21 price target. Y-mAbs a revenue-generating biopharma company focused on developing cancer drugs, the analyst tells investors in a research note. The firm says that while the stock reflects peak sales of $300M for the company’s approved antibody-based drug for brain cancer and potentially other tumor types, the drug should be viewed as funding development of its “overlooked” radioimmunotherapy platform. Truist thinks longer-term investors should start paying attention to Y-mAbs’ radio platform, which it thinks may be attractive for big pharma interested in building out their pipeline or entering the radiopharma space.