Guggenheim raised the firm’s price target on Assembly Biosciences (ASMB) to $39 from $31 and keeps a Buy rating on the shares. Following interim data from Assembly’s Phase 1b study released last month that demonstrated “striking efficacy and a clean safety profile” for ABI-5366, the firm is increasing its view of the odds of success to 75% from 65% and increasing its assumed monthly price to $500 from $300 for what it calls “a potential blockbuster novel weekly or monthly treatment” for recurrent genital herpes.
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