Jasper Therapeutics saw its stock leap 112 % after Oppenheimer analyst Jay Olson commenced coverage with a buy-equivalent outperform rating and a $21 price target.
Olson described Jasper as a "emerging leader" in developing innovative tailored conditioning medicines for hematopoietic stem cell transplantation in a research note posted after the market closed on Tuesday.
JSP191, the company's main candidate, is utilised to extract hematopoietic stem cells from bone marrow prior to transplantation.
Olsen thinks Jasper Therapeutics has a good chance of changing what he calls the "decades-old standard" of hematopoietic stem cell transplantation for various disorders, "either as a standalone conditioning agent or as the backbone of the conditioning regimen."
Amgen , a biopharmaceutical company, disclosed a 7.4 % stake in Jasper in early October.