Citizens upgrades Quince Therapeutics to Market Outperform, sets $77 price target

Citizens upgrades Quince Therapeutics to Market Outperform, sets $77 price target

Citizens upgraded Quince Therapeutics's stock to Market Outperform with a price target of $77.00.

The price target implies an upside of 148.4% from the Sep 21 close of $31.

Key takeaways from the analyst note

Positive Clinical Data: Quince Therapeutics recently reported encouraging Phase 2a clinical trial results for its lead asset, LAM-001, which demonstrated meaningful improvements in key efficacy endpoints for pulmonary hypertension associated with interstitial lung disease (PH-ILD). The data indicated significant reductions in pulmonary vascular resistance and notable enhancements in exercise capacity among patients, suggesting strong potential for the drug's success in upcoming trials.

Strong Financial Position: The company has a solid balance sheet that provides adequate funding through 2028, allowing it to navigate critical clinical readouts without immediate financial pressure. Additionally, outstanding warrants could further extend their cash runway, positioning Quince Therapeutics well for future developments and potential commercialization of its therapies.

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