Stifel starts Allergy Therapeutics on Buy, with TP of 79p

14 October 2015

Stifel initiated coverage on Allergy Therapeutics (LSE: AGY) with a Buy rating and a target price of 79 pence.

The broker in a research note said it expects sales worth $400 million by 2023 from the company’s Pollinex Quattro portfolio of grass, tree and ragweed allergy vaccines.

Allergy Therapeutics has completed one Phase III field trial of Pollinex Quattro Grass in the USA. The 1,028 subject study demonstrated the product offered significant improvement in allergy symptoms and relief medication use.

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