UPDATE: Wedbush Initiates Coverage on OvaScience on Strong Augment Potential

In a report published Thursday, Wedbush analyst Zarak Khurshid initiated coverage on

with an Outperform rating and $20.00 price target. In the report, Wedbush noted, “We are initiating coverage of OvaScience (OVAS) with an OUTPERFORM rating and a $20 12-month price target. OVAS is developing products for the treatment of age-related infertility through the enhancement of success rates associated with in vitro fertilization (IVF). The company's lead product, AUGMENT (autologous germline mitochondria energy transfer), involves a method to isolate mitochondria from a woman's egg precursor cells followed by transfer into the egg during IVF, which improves egg energetics and potentially increases the rate of live birth. Additionally, OVAS is developing OvaTure, which represents a next-generation disruptive IVF technology through the creation of young fresh fertilizable eggs from a woman's own egg precursor cells.” OvaScience closed on Wednesday at $12.00.