The PYC Therapeutics share price is $1.27, down 2.31% at the time of writing.
Canaccord Genuity has a buy rating on this ASX small-cap biotech share with a 12-month price target of $2.40.
The broker notes that a US competitor recently announced positive Phase 1b study data for another gene therapy targeting autosomal dominant polycystic kidney disease (ADPKD).
The broker says:
While the asset is a competitive threat to PYC's, we note the ADPKD market is very large and there is room for multiple players.
We also think that PYC may have a differentiated mechanism because it directly targets the gene responsible for cyst formation in the kidney …
PYC Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
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