Stifel initiates coverage on Gracell Biotechnologies with 'buy'

Gracell Biotechnologies

19/10/2023 12:36

** Brokerage Stifel initiates coverage on Gracell
Biotechnologies  GRCL.O  with "buy" rating, $11 PT
    ** PT represents a more than fourfold upside to stock's last
close at $2.6
    ** GRCL's immune therapy will emerge as a high efficacy
option for the treatment of systemic lupus erythematosus (SLE),
Stifel says
    ** Initial data for the therapy will be positive and
increase investor excitement - brokerage
    ** SLE is an autoimmune disease in which the immune system
attacks its own tissues, causing widespread inflammation and
tissue damage
    ** All 8 brokerages covering the stock rate "buy" or higher;
median PT is $11 - LSEG data
    ** Up to last close, stock up 13% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))