(CercleFinance.com) – Sensorion gains more than 8% in Paris after Stifel reiterated its purchase recommendation on the stock on Tuesday, with a price target of 1.50 euros, saying it was more optimistic about the chances of success of its drug candidate SENS-501.
Returning to the recent conference of the American Society of Gene and Cell Therapy (ASGCT), the research office judges that the data presented by other laboratories (Regeneron, Refreshgene) on the occasion proved to be rather encouraging.
‘Clinical results from competitors continue to accumulate and while we are impatient to discover Sensorion’s first conclusions, the arrival of favorable data and the fact that the drug candidates are close make us confident,’ indicate Stifel analysts.
SENS-501 is a gene therapy program developed with the aim of restoring hearing to patients carrying mutations linked to otoferlin deficiency.
Given this information, Stifel says it has increased its chances of success for the product from 25% to 35%.
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