B.Riley FBR analyst Madhu Kumar reiterated a Buy rating on Assembly Biosciences (ASMB) today and set a price target of $42. The company’s shares opened today at $25.58, close to its 52-week low of $20.61.
“Biosciences (ASMB) announced 3Q18 earnings and provided a corporate update. We remind investors of our emerging optimism for hepatitis B virus (HBV) core inhibitors, particularly in light of upcoming Phase IIa data from competing core inhibitor GLS4 plus ritonavir (GLS4/RTV) from HEC Pharma to be presented at the Disease (AASLD) 12, 2018. We believe these HEC Pharma results could materially de-risk ASMB’s Phase IIa studies with lead asset, HBV core inhibitor ABI-H0731, for which data has been guided for 1H19. After 3Q18 model updates, we reiterate our ASMB buy rating and $42 price target.”
According to TipRanks.com, Kumar is a 4-star analyst with an average return of 12.7% and a 41.2% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Clementia Pharmaceuticals Inc.
Assembly Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $58.50.
The company has a one-year high of $67.36 and a one-year low of $20.61. Currently, Assembly Biosciences has an average volume of 206.9K.
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Assembly Biosciences, Inc. is a biotechnology company, which engages in the development of products for infectious diseases, such as chronic hepatitis B virus and illnesses associated with a dysbiotic microbiome. It focuses in two innovative platform programs: oral therapeutics for the treatment of hepatitis B virus, and the oral synthetic live biotherapeutics candidate. The company was founded by Uri Lopatin on October 7, 2005 and is headquartered in Carmel, IN.