H.C. Wainwright analyst Patrick Trucchio reiterates a Buy rating on Assembly Biosciences (ASMB) with a $50 price target after the company announced that Gilead (GILD) exercised its option to license both of Assembly’s long-acting herpes simplex virus helicase-primase inhibitors being developed for the treatment of recurrent genital HSV infection. Gilead’s exclusive license de-risks Assembly’s novel antiviral pipeline, the analyst tells investors in a research note. H.C. Wainwright believes Gilead’s opt-in “significantly de-risks the programs and provides Assembly with a strong financial foundation to execute across its pipeline of next-generation antivirals.”
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASMB:
- Gilead exercises option to license Assembly helicase-primase inhibitor programs
- Assembly Biosciences Completes Key Phase 1a Study on ABI-6250
- Positive Buy Rating for Assembly Biosciences Driven by Promising HSV-2 Program and Strategic Partnerships
- Assembly Biosciences Reports Positive Phase 1b Results
- Assembly Biosciences announces interim results from ABI-1179, ABI-5366 trials