Avalo Therapeutics initiated with a Buy at Lucid Capital

Lucid Capital analyst Dev Prasad initiated coverage of Avalo Therapeutics (AVTX) with a Buy rating and $24 price target The company’s lead asset, AVTX-009, is an anti-IL-1beta monoclonal antibody targeting inflammatory diseases, beginning with hidradenitis suppurativa, the analyst tells investors in a research note. The firm projects adjusted 2042 peak sales of $405M for AVTX-009 in HS alone, with additional upside from its potential application in other inflammatory diseases, such as inflammatory bowel disease. It believes Avalo “represents a compelling opportunity for long-term growth.”