Morgan Stanley Initiates Coverage of Protein Design with 'Neutral'

Analyst Ian Somaiya says the stock has come under significant pressure after several recent clinical trial disappointments

Morgan Stanley initiated coverage of Protein Design (PDLI ) with netural.

Analyst Ian Somaiya says Protein Design's stock has come under significant pressure after several recent clinical trial disappointments. He recommends investors wait for Phase II Zenapax psoriasis data release in late March as confirmation of the trial's possible failure. He notes this could lead to additional pressure on Protein Design's shares, creating an attractive entry point.

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