RayzeBio initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of RayzeBio with an Overweight rating and $30 price target. The firm says RayzeBio represents a pure-play opportunity to own a pioneer in the radiopharmaceutical space and boasts a “relatively de-risked” lead asset in RYZ101 currently in Phase III as well as an earlier-stage pipeline that could offer further long-term value. The analyst believes the radiopharmaceuticals space is still in its early innings and thinks is RayzeBio poised to advance the field with solid management and a string of potential value-creating milestones over the next two years.