PRLD - Prelude Therapeutics raised to buy at BofA citing recent pullback

naphtalina/iStock via Getty Images Following a slight decline on Monday, Prelude Therapeutics ([[PRLD]] +8.9%) has resumed upward march today, adding to over a 10% gain on Friday as Bank of America turns bullish on the stock. The analysts led by Tazeen Ahmad have upgraded the company to buy from neutral, noting that the recent pullback in its shares indicates nearly 80% upside to the firm’s unchanged price target of $60. Prelude’s PRMT5 approach to cancer therapeutics is “differentiated,” the analysts argue, highlighting its potential to target multiple cancer types. They also point to the likelihood of further upside in company shares given the upcoming catalysts in H2 2021. In H2 2021, the investors will have an early look at Phase 1 data from Prelude’s lead oral PRMT5 inhibitors PRT543 and PRT811 in solid tumors and blood cancers.

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Prelude Therapeutics raised to buy at BofA citing recent pullback