NVS - Allakos' Antibodies For Chronic Skin Conditions Analyst Sees Over 400% Stock Upside | Benzinga
JMP Securities initiated coverage on Allakos Inc (NASDAQ: ALLK), noting novel monoclonal antibodies targeting Siglec (sialic acid immunoglobulin-like lectin) receptors on immune cells that are drivers of multiple diseases.
The analyst Jonathan Wolleben keeps a Market Outperform rating with a price target of $11.
He notes that lead candidates lirentelimab and AK006 bind to Siglec-8 and -6 receptors predominantly expressed on eosinophils and mast cells, suppressing the pathologic activation and proliferation.
JMP writes that the lead programs have broad applications and can respond to and counteract various activating signals.
Lirentelimab, the leading candidate, is undergoing Phase 2 clinical trials for ...