Piper Sandler initiated coverage of LeonaBio with an Overweight rating and $20 price target. The company is advancing lasofoxifene, a selective estrogen receptor modulator for treatment of ER+/HER2- metastatic breast cancer, the analyst tells investors in a research note. Piper views LeonaBio as a late clinical stage biotech company that is well positioned to compete in the large metastatic breast cancer market.
