Mizuho Securities analyst Difei Yang maintained a Buy rating on Selecta Biosciences (NASDAQ: SELB) today and set a price target of $30. The company’s shares closed yesterday at $13.02.
Yang wrote:
“We do not see quarterly earnings as the most meaningful indicator of value for development stage biotechs. Selecta will present data from the Phase 2 trial of SEL-212 for the five monthly dose cohorts at the Rheumatology (ACR) meeting on October 19-24, 2018. We think this is likely the biggest catalyst for the shares in 2018 and we view the probability of success as favorable. Phase 3 trial preparations are underway. A head-to-head trial with standard of care Krystexxa is also planned which we believe could be an important differentiator for SEL-212.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 22.7% and a 53.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Selecta Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $34.33, which is a 163.7% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $40 price target.
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Based on Selecta Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $18.8 million. In comparison, last year the company had a GAAP net loss of $15.97 million.
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Selecta Biosciences, Inc. is a clinical-stage biopharmaceutical company, which engages in the research and development of nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. The firm produces the Synthetic Vaccine Particles (SVP) platform for immune tolerance and immune stimulation.
