Needham Maintains Buy Rating for I-MAB: Here's What You Need To Know

Needham has decided to maintain its Buy rating of I-MAB IMAB and lower its price target from $72.00 to $41.00.

Shares of I-MAB are trading down 15.43% over the last 24 hours, at $6.74 per share.

A move to $41.00 would account for a 508.31% increase from the current share price.

About I-MAB

I-Mab Biopharma is a clinical-stage biotech company in China that listed on Nasdaq in January 2020. Its first commercial drug will be felzartamab for the China market, a CD38 inhibitor for multiple myeloma, which we estimate will be launched in 2022. Core assets include eftansomatropin, a long-acting recombinant human growth hormone,or rhGH; lemzoparlimab, a potential best-in-class CD47 inhibitor; uliledlimab, a potential best-in-class CD73 inhibitor; and efineptakin alfa, a potential first-in-class long-acting IL-7 drug for tumors and treatment-associated lymphopenia.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.