UPDATE: MLV Initiates Coverage of Prana Biotechnology
McNicoll Lewis Vlak has initiated coverage of Prana Biotechnology (NASDAQ: PRAN) with a Buy rating and a price target of $6.
In a report published this morning, MLV writes, “Prana is an early stage, neurologically focused biotechnology company focused on the discovery and development of treatments for Alzheimer's disease (AD), Huntington's disease (HD), and other major CNS disorders. We would own the stock for several reasons, including: 1) recent data that elucidates the mechanism 2) strong Phase II data in AD 3) aging US population 4) lack of disease modifying agents, and 5) billion dollar revenue potential.”.
PRAN closed yesterday at $1.42 and is currently trading up $0.05 since market open today.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.