Bond.az - Mizuho initiated coverage on Century Therapeutics (NASDAQ:IPSC) with an Outperform rating and set a price target of $8.00.
The stock currently trades at $2.17, giving the company a market cap of $391 million.
The firm highlighted the company's work on cell therapy for Type 1 Diabetes. Approximately 2 million people in the US live with the condition.
Mizuho noted that modern insulin replacement and glucose monitoring sustain life but are not cures.
Patients face continuous blood sugar tracking, risk of hypoglycemia, and complications that can shorten life by more than 10 years.
Data over 20 years shows cadaveric islet cell transplantation can functionally cure Type 1 Diabetes, but it is not scalable.
Century is positioned to address both problems. Shares have risen 286% over the past year but remain volatile.
The $8 price target is based on a discounted cash flow and price-to-earnings analysis.
