Sep. 4 at 11:50 AM
Oppenheimer🏁
$BBOT at an Outperform rating and a
$23 price target.
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Oppenheimer said: We are initiating on
$BBOT with an Outperform rating and
$23 price target.
The company's motto "Best-in-RAS" succinctly summarizes our investment thesis:
We think
$BBOT is developing drugs that can unlock the full potential of targeting this pathway. The significance can't be understated: The RAS pathway is active in >50% of cancers—a Holy Grail for cancer therapy—but current drugs only work sparingly in some patients.
$BBOT is out to change that, beginning with BBO-8520, a souped-up KRAZATI that targets the KRASG12C mutant. Some would argue that G12C is getting overly crowded, but to us the drug is just the opening act. In a future where combinations reign supreme, we think
$BBOT has the building blocks to become the leader—with BBO-10203 its ace in the hole.
$BBOT