RayzeBio initiated with an Outperform at William Blair

William Blair analyst Andy Hsieh initiated coverage of RayzeBio with an Outperform rating and no price target. The analyst believes RayzeBio is poised as a leader in radiopharmaceuticals through development of what may be the first approved actinium-225-based radiopharmaceutical. The firm believes the company has a high chance of success given the modality’s validation from Lutathera. Several near- to mid-term datasets could provide additional validation for RayzeBio’s approach, notes Blair.