LUMO - Lumos Pharma upgraded to buy from hold at Stifel

Stifel analyst Derek Archila has upgraded shares of Lumos Pharma (LUMO) from hold to buy and increased his price target from $4 to $24.Based on yesterday's closing price of $13.25, that implies an upside of ~81%.Archila is bullish on shares because LUM-201 for pediatric growth hormone deficiency (PGHD) is an oral treatment as opposed to an injectable. The candidate is currently in phase 2.Data from a phase 2b study is expected in mid-2022."Responses rivaling that of daily injectable rGH we think is enough to confirm this approach in a subsequent phase 3 trial," Archila writes.He adds that available data "gets us comfortable on LUM-201's potential efficacy in PGHD."Lumos shares are up 2.6% to $13.60 in morning trading.

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Lumos Pharma upgraded to buy from hold at Stifel