Zura Bio rises as Raymond James starts coverage with 'strong buy'

Zura Bio

24/05/2023 13:01

** Shares of biotech co Zura Bio Limited  ZURA.O  rise 8.2%
to $5.8 before the bell
    ** Brokerage Raymond James initiates stock coverage with
"strong buy" rating 
    ** Assigns PT of $20 reflecting an over 4-fold upside to the
stock's last close of $5.35
    ** Optimistic on ZURA's three clinical-stage inflammation &
immunology drugs in development 
    ** All the three candidates were licensed from either Pfizer
Inc  PFE.N  or Eli Lilly and Company  LLY.N  on favorable
economic terms
    ** All mid-stage trials for co's clinical assets are planned
to start in 2024 
    ** Up to last close, stock down ~48% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))