Following are the 3 stocks which have been updated by wall street analysts.
Lightning Emotors Inc (NYSE:ZEV) initiation details — Outperform at Oppenheimer; target $15
Oppenheimer initiates ZEV with an Outperform and price target of $15. Analyst Colin Rusch said, “We view Lightning eMotors as a clear leader in the electrification of Class 3-7 vehicles, leveraging a modular architecture into defensible solutions and with a blue-chip customer base.
With Lightning’s diverse supply chain, demonstrated capability in delivering numerous vehicles types, and optionality on either growing through powertrain development, full vehicle sales, or being a leading integrator of fuel cell-based power systems, we believe ZEV shares offer investors meaningful upside potential.”
Liminal BioSciences Inc. (NASDAQ:LMNL) – to Neutral from Buy at H.C. Wainwright
H.C. Wainwright downgrades LMNL to Neutral from Buy. Analyst Edwin Zhang said, “Our initial investment thesis was centered around fezagepras (in IPF) and Ryplazim (including PRV), which have been changed or matured due to recent business updates. For the near future, we have little visibility into the next clinical program(s) and as a result, the valuation of the pipeline becomes less practical at this point in time. For these reasons, we are moving to the sidelines now and downgrade our rating on the shares to Neutral without a price target.
We, along with many investors, are eagerly awaiting the company’s future clinical plan, which we believe will be critical for its business development and may well define the company in the years to come.”
Kronos Bio, Inc. (NASDAQ:KRON) – initiation details — Buy at H.C. Wainwright; target $35
H.C. Wainwright initiates KRON with a Buy and price target of $35. Analyst Robert Burns noted, “In our view, Kronos possesses a novel precision medicine-driven strategy driven by computational biology married to a small molecule microarray (SMM) screening platform. The company is led by Norbert Bischofberger, the former Chief Scientific Officer of Gilead Sciences. During his almost three decade-long tenure at Gilead, Dr. Bischofberger oversaw the launches of multiple highly innovative medicines, including the widely-used HIV drugs Emtriva (emtricitabine), Sustiva (efavirenz) and Truvada (emtricitabine/tenofovir), as well as the hepatitis B and HIV agent Viread (tenofovir disoproxil fumarate) and the hepatitis C-curing agent Sovaldi (sofosbuvir). We regard Kronos Bio’s CEO as one of the foremost small molecule drug developers in the biopharma industry.”
