On Wednesday, Stifel, a full-service brokerage and investment banking firm, initiated coverage on Jasper Therapeutics (NASDAQ:JSPR) with a Buy rating and a price target of $86.00. The firm's positive outlook is based on the potential success of Jasper's briquilimab in treating both Chronic Spontaneous Urticaria (CSU) and Chronic Inducible Urticaria (CIndU).
The endorsement of briquilimab's prospects comes with reference to competitor data that has shown c-Kit blockade to be an effective treatment mechanism in severe patients. This data relates to a similar treatment, barzolvolimab, developed by a competitor covered by another analyst at Stifel. The firm believes that the shorter half-life of briquilimab could lead to a safer profile and give Jasper Therapeutics a commercial edge in the market.
Stifel also sees potential for briquilimab in treating Asthma, based on the theory that mast cell depletion could be an effective treatment. The firm suggests that proof of concept (PoC) data could increase enthusiasm for briquilimab's use in this indication, a potential that is currently not reflected in Jasper's stock valuation.
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