Wainwright starts Celularity with 'buy' on placenta-derived therapy potential

Celularity

22/06/2022 11:41

** H.C.Wainwright initiates drug developer Celularity
 CELU.O  with "buy" rating and PT of $15 over its "promising
placenta-derived cell therapies"
    ** CELU is developing multiple cell therapies from placenta
cells as treatments for cancer, infectious, and degenerative
diseases
    ** Brokerage expects CELU's three clinical candidates to
enter the market in 2025 and grow to ~$1.4 bln by 2030
    ** "CELU at current valuation of approx $550 mln is
undervalued considering upside potential of co's platform and
provides attractive entry point to long-term investors" -
Wainwright
    ** Out of four analysts covering CELU, two rate stock
"strong buy" and rest "hold"; their median PT is $10 - Refinitiv
data

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))