BTIG analyst Justin Zelin lowered the firm’s price target on Jasper Therapeutics (JSPR) to $64 from $90 and keeps a Buy rating on the shares after the company presented data for briquilimab from the Phase 1b/2a BEACON study in chronic spontaneous urticaria. The data confirmed briquilimab is active and efficacious in treating CSU, with a favorable early safety profile, but the stock is trading down by about 57% based on briquilimab’s value proposition compared to Celldex’s (CLDX) barzolvolimab being “less distinct,” the analyst tells investors. Additional catalysts expected this year include updated BEACON data as well as initial asthma data in the second half, the analyst added.
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Read More on JSPR:
- JMP Securities healthcare analysts hold an analyst/industry conference call
- Jasper BEACON data ‘net positive,’ says BMO Capital
- H.C. Wainwright cuts Jasper target, says 50% selloff overdone
- Jasper data alleviates competitive concerns for Celldex, says Citi
- Jasper Therapeutics reports data from BEACON study of briquilimab
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