Y-mAbs Therapeutics rises after Wedbush upgrades to 'outperform'

Y-mAbs Therapeutics

10/05/2023 13:30

** Shares of drugmaker Y-mAbs Therapeutics Inc  YMAB.O  gain
4.3% to $9.63 premarket 
    ** Brokerage Wedbush Securities upgrades Y-mAbs to
"outperform" from "neutral", raises PT to $13 from $5
    ** Wedbush says it believes co's cancer drug Danyelza has
returned to growth with increasing demand 
    ** On Tuesday, Y-mAbs raised its annual revenue outlook for
Danyelza
    ** Wedbush expects recent approval of the drug in China and
its anticipated launch in Q2 could provide "incremental upside"
to estimates
    ** Brokerage also cites "visibility" for co's SADA platform
as a reason for the upgrade, with Y-mAbs expected to begin
reporting data from the program over the next year
    ** SADA technology is being developed for radioimmunotherapy
to treat certain types of cancers 
    ** Stock has gained ~89% so far this year

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))