BofA cuts VectivBio PT on likely higher near-term costs

VectivBio Holding AG

08/04/2022 19:43

** BofA Securities cuts price target on drug developer's
 VECT.O  shares to $14 from $17, maintains "buy" rating
    ** Brokerage says PT cut reflects potential increase in
near-term operating expenses for VECT, as it plans to begin
human trial for its rare disease drug VB-1197 by H2 2023
 urn:newsml:reuters.com:*:nGNX24FcxB 
    ** Encouraged by the long-action profile of VECT's drug
apraglutide, and its market opportunity in short bowel syndrome
with intestinal failure (SBS-IF) and acute graft-versus-host
disease indications - BofA
    ** Brokerage estimates peak sales on a risk-adjusted basis
for apraglutide in SBS-IF of $390 million in 2034 
    ** Including Friday session moves, stock down 0.2% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))