Guggenheim initiates Nanobiotix coverage with 'buy', shares rise

Nanobiotix SA

28/08/2024 15:10

(Updates)
    ** U.S.-listed shares of French drug developer Nanobiotix SA
 NBTX.O  rise 8.2% to $5.55
    ** Brokerage Guggenheim initiates NBTX with "buy" rating, PT
at $12
    ** The price target represents a more than double upside to
the stock's last close
    ** Guggenheim says co's radiation therapy, NBTXR3, has
potential opportunity into numerous other indications with a
focus on certain types of head and neck cancer and non-small
cell lung cancer
    ** Says co's licensing agreement with Johnson & Johnson
 JNJ.N  de-risks development & commercialization of NBTXR3 
        ** 6 of 6 brokerages rate the stock "buy" or higher;
their median PT is $11 - LSEG data
    ** Up to last close, stock was down 29.5% YTD

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