Cyclo Therapeutics initiated with a Buy at Ascendiant

Ascendiant initiated coverage of Cyclo Therapeutics with a Buy rating and $2.60 price target. Cyclo is a drug company specializing in cyclodextrin-based therapies for neuro-degenerative diseases, including Niemann-pick type C and Alzheimer’s disease, the analyst tells investors in a research note. The firm says the patient cultivation of the company’s cyclodextrin platform brings it close to breakthrough therapies.