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Strong Biosciences (NASDAQ:SLDB) gained ~14% on Friday to publish the very best intraday achieve since March after JPMorgan upgraded the clinical-stage biotech to Impartial from Underweight, citing its deal to accumulate the privately held gene remedy firm AavantiBio.
Analysts led by Anupam Rama cite a number of positives within the merger announcement as causes for his or her improve.
The crew views the mixed agency’s determination to prioritize Duchenne candidate SGT-003 over the earlier lead candidate SGT-001 as “prudent.”
The analysts additionally highlighted the pipeline enlargement with the addition of preclinical candidates, together with AVB-202 for Friedreich’s ataxia and AVB-401 for coronary heart illness, BAG3 mediated dilated cardiomyopathy.
Along with the money runway that extends into 2025, JPMorgan additionally pointed to management transition, arguing that CEO designate, former Sarepta government Bo Cumbo is “well-known and regarded on the Road.”
Nonetheless, the crew sticks to a Impartial ranking as positives offset the corporate’s early-stage pipeline and want for worth producing scientific information.
Regardless of a Maintain ranking and a Promote ranking, SLDB has an total ranking of Purchase on Wall Road.
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