Stockbroker Morgans has initiated coverage of Antisense Therapeutics with a Speculative Buy rating and a maiden price target of 37.7c.
In the stockbroker’s words, this is an advanced stage drug developer focused on inflammation in patients suffering from a number of rare genetic diseases with large unmet clinical needs.
Most importantly, for investors, it seems Antisense is now heading into a milestone rich period, including commencement of a pivotal Ph2b trial, data on additional indications, possible monetising of non-core indications, and potential awarding of regulatory incentives and priority status.
Needless to say, Morgans views the stock as undervalued and has adopted a risk-weighted approach to set the initial price target. The company is not expected to turn a profit anytime soon.
Sector: Pharmaceuticals, Biotechnology & Life Sciences.
Target price is $0.38.Current Price is $0.17. Difference: $0.21 – (brackets indicate current price is over target). If ANP meets the Morgans target it will return approximately 55% (excluding dividends, fees and charges – negative figures indicate an expected loss).
