UPDATE: McNicoll Lewis Vlak Initiates Coronado Biosciences at Buy on Strong Scientific Backing
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 2015||MLV & Co.||Upgrades||Hold||Buy|
|Nov 2013||Bank of America||Downgrades||Neutral||Underperform|
|Oct 2013||MLV & Co.||Downgrades||Buy||Hold|
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