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UPDATE: McNicoll Lewis Vlak Initiates Coronado Biosciences at Buy on Strong Scientific Backing

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McNicoll Lewis Vlak initiated coverage on Coronado Biosciences (NASDAQ: CNDO) with a Buy rating and a $10 price target.

McNicoll Lewis Vlak noted, "We are initiating coverage on Coronado Biosciences, Inc., with a BUY recommendation and $10.00 price target, as we view Coronado's innovative approach to modulating the immune system to be scientifically grounded and cost effective for patients managing life-long inflammatory diseases. The company acquired their lead asset, CNDO-201 in 1Q:11 and then quickly self-registered via Form 10, and emerged onto the public scene as a Phase II-ready NASDAQ listed biopharmaceutical company in 4Q:11. CNDO-201 may be ready for Phase III testing in Crohn's disease patients as early as 1Q:14, as Phase II results are expected in 2H:13. We consider the execution of Coronado's development plans to be similar to their science: innovative and determined."

Coronado Biosciences closed at $5.30 on Friday.

Latest Ratings for CNDO

Mar 2015MLV & Co.UpgradesHoldBuy
Nov 2013Bank of AmericaDowngradesNeutralUnderperform
Oct 2013MLV & Co.DowngradesBuyHold

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