Shares of Vor Biopharma (VOR.O) rise 67% to $13.97 premarket
J.P.Morgan starts coverage with “overweight” rating and PT of $43, which represents 414% upside to the stock’s last close
Brokerage says VOR’s autoimmune disease drug, telitacicept, licensed from China’s RemeGen (688331.SS) , is considered “highly de-risked across a range of indications” due to strong late-stage data from China
Telitacicept is being developed to treat Myasthenia Gravis, a muscle weakening disorder, and primary Sjögren’s Disease, condition that causes dry eyes and mouth
J.P.Morgan “conservatively assume(s) blockbuster peak sales for telitacicept in the U.S. alone” in both indication
Current share price seen as undervalued, given “probability-adjusted value of telitacicept in MG and pSD alone” - J.P.Morgan
Stock down 62% YTD

Vor Biopharma's shares surged 67% premarket after J.P. Morgan initiated coverage with an "overweight" rating and a price target of $43, indicating a 414% upside. J.P. Morgan views Vor's autoimmune drug, telitacicept, as highly de-risked due to strong data from China, predicting blockbuster U.S. sales. The stock is considered undervalued, despite being down 62% YTD.

BUZZ-Vor Bio jumps as J.P.Morgan initiates with 'overweight' rating