Jefferies Sees 65-75% Chance DT120 Success as Baird Lifts Target to $37
Jefferies initiated Buy coverage on Definium Therapeutics and assigns 65-75% odds that DT120 will achieve best-in-class efficacy in Phase III after a 48% remission rate in Phase IIb. Baird raised its price target to $37 and maintained an Outperform rating, while Definium added Roger Adsett to its board.
1. Jefferies Coverage Details
Jefferies initiated Buy coverage on Definium Therapeutics, assigning a 65-75% probability that DT120 will deliver best-in-class efficacy in two Phase III trials slated to begin in Q2, building on a 48% remission rate achieved in a Phase IIb trial for generalized anxiety disorder.
2. Baird Price Target Revision
Baird raised its price target on the company’s shares to $37 from $16 and maintained an Outperform rating, adjusting its financial projections to incorporate DT120’s potential in treating major depressive disorder alongside generalized anxiety disorder.
3. Board Appointment
Definium expanded its leadership team by appointing Roger Adsett, current COO of Insmed, to its board of directors, increasing the board size from six to seven members to strengthen governance ahead of late-stage clinical programs.