UPDATE: Jefferies Initiates Coverage on Bellicum Pharmaceuticals with Buy Rating, $35 PT on Position to Be Leading Player

In a report published Monday, Jefferies analyst Biren Amin initiated coverage on

with a Buy rating and $35.00 price target. In the report, Jefferies noted, “BLCM appears poised to be a leading player in the development of suicide safety switches for T-cell engineered products w/ its lead program, BPX-501, in ongoing PI/II focused on resolution of acute GVHD in patients undergoing stem cell transplant. BLMC has developed a suicide switch platform which it employs across its pipeline to potentially influence efficacy/safety. We initiate with a Buy and $35 PT.” Bellicum Pharmaceuticals closed on Friday at $31.75.