Canaccord Genuity Starts TiGenix NV (TIG) at Buy

Canaccord Genuity initiates coverage on TiGenix NV (NASDAQ: TIG) with a Buy rating and a price target of $22.00.

Analyst Dr. John newman comments "We model ~$500M US peak sales for Cx601, based on a ~20% share of the refractory complex perianal fistula market, which we think is readily achievable. We assume initial US pricing of $40,000 at launch in 2021 for our base case. Importantly, TiGenix recently signed an ex-US deal with Takeda, including a mid-teens royalty, which we think adds an excellent partner with experience in the GI space. Takeda markets Entyvio, an antiintegrin drug approved for Crohn’s disease and ulcerative colitis, providing a very capable partner."

For an analyst ratings summary and ratings history on click here. For more ratings news on click here.

Shares of closed at $14.70 Friday.

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