Jefferies cuts PT for Landos Biopharma over uncertain pipeline prospects

Landos Biopharma

12/04/2022 11:37

** Jefferies cuts PT for drug developer  LABP.O  to $1.4
from $30 as co's clinical pipeline prospects remain uncertain
    ** Brokerages says in contrast to a previously broad
pipeline of early-stage drugs, co's current strategy is placing
key focus on lead drug, omilancor, in ulcerative colitis
    ** Other clinical assets continue to develop with lower
priority, as LABP hones in on "what they have" over the
discovery potential of their AI platform - Jefferies
    ** Downgrades to 'hold' from 'buy'
    ** Three out of seven brokerages covering the stock rate it
'buy', four rate 'hold'; their median PT is $12.50
    ** Stock, which last closed at $1.27, down ~73.5% YTD

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