CSL: Jefferies raises PT to A$161.50 after Alentis licensing deal
Jefferies raised Australia's CSL Ltd price target to A$161.50 from A$146.50 after the company licensed lixudebart, a Phase 2 anti-fibrotic antibody, from Swiss biotech Alentis Therapeutics. CSL will pay $355 million upfront, up to $1.2 billion in commercial milestones and fully fund development of the asset.
50 after the company licensed lixudebart, a Phase 2 anti-fibrotic antibody, from Swiss biotech Alentis Therapeutics. 2 billion in commercial milestones and fully fund development of the asset. 1%, citing the upfront payment and additional R&D spending. Jefferies said the deal fits CSL's strategy of expanding its pipeline through asset acquisitions, while efforts to re-energise its research function will likely take time.
00. 5% year-to-date as of the last close.