Zura Bio initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Zura Bio with an Overweight rating and no price target. Zura is a clinical-stage immunology company with a portfolio of in-licensed antibodies that target multiple pathways as single agents, the analyst tells investors in a research note. The firm says that with a “modest” $250M market cap and clinical programs addressing high unmet needs, the shares reflect a much lower probability of success than the biology merits. If any of the Zura pipeline programs succeed, peak sales of over $1B would be achievable, justifying a potential valuation in excess of $3B, Cantor contends.