UPDATE: Bank of America Initiates Coronado Biosciences with Buy on New Autoimmune Approach
In a report published Monday, Bank of America analyst Steve Byrne initiated coverage on Coronado Biosciences (NASDAQ: CNDO) with a Buy rating and $17.00 price target.
In the report, Byrne noted, “Coronado's advisory board include the pioneers of the ‘hygiene hypothesis,' i.e., that many systemic inflammation and autoimmune diseases can be effectively treated with a commensal intestinal parasite that moderates the immune response. We find the epidemiological and clinical data behind this concept to be compelling. CNDO's lead product is a microscopic pig whipworm (Trichuris suis ova, or TSO), which does not reach maturity in humans and is therefore non-infective. TSO could revolutionize medical treatment for many indications. While adoption could be slow, we believe the potential is enormous. Our $17 PO is based on modest market penetration in one indication (Crohn's) with a 2017 US launch.”
Coronado Biosciences closed on Friday at $10.70.
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