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UPDATE: Canaccord Genuity Initiates Coronado Biosciences with Buy on TSO Value Driver

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In a report published Monday, Canaccord Genuity analyst Salveen Richter initiated coverage on Coronado Biosciences (NASDAQ: CNDO) with a Buy rating and $18.00 price target.

In the report, Richter noted, “We are initiating coverage of Coronado with a BUY rating and an $18 price target. The key value driver is TSO (Trichuris suis ova), a novel biologic composed of pig whipworm eggs currently in two randomized, placebo-controlled Phase 2 trials for Crohn's disease. We like the novel mechanism (hygiene hypothesis rationale), positive single-arm data and physician feedback that handicaps a high likelihood of success for the upcoming data, which should provide a key stock catalyst in H2. We model for peak TSO sales in the U.S. of ~$1B in 2028, with TSO in other indications (ulcerative colitis, multiple sclerosis, autism)/territories and the second pipeline product CNDO-109 serving as a free-call option.”

Coronado Biosciences closed on Friday at $9.25.

Posted-In: Canaccord GenuityAnalyst Color Initiation Analyst Ratings

 

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