Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on Assembly Biosciences, retaining the price target of $50.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors including the promising interim Phase 1b data from Assembly Biosciences’ HSV-2 program. The results from studies on ABI-1179 and ABI-5366 showed significant antiviral efficacy and safety, surpassing existing therapies. The once-weekly dosing demonstrated impressive viral suppression, with reductions in HSV-2 shedding of 98% and 94% for ABI-1179 and ABI-5366, respectively.
Additionally, the potential for lifecycle expansion and the strong proof-of-concept activity of ABI-5366’s monthly regimen further support the positive outlook. The advancement of these programs to Phase 2, coupled with the financial stability provided by a cash runway extending into late 2027, positions Assembly Biosciences well for future growth. The collaboration with Gilead also presents an opportunity for further development and commercialization, reinforcing the Buy rating and a $50 price target.
According to TipRanks, Trucchio is a top 100 analyst with an average return of 35.0% and a 56.24% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as Precision BioSciences, Aligos Therapeutics, and Altimmune.
In another report released yesterday, Guggenheim also reiterated a Buy rating on the stock with a $39.00 price target.