Now that Antisense Therapeutics has raised $20m via an institutional placement at $0.24 (along with a 1 for 2 free-attaching options), Morgans raises its target price to $0.58 from $0.45.
The capital allows completion of the Duchenne muscular dystrophy (DMD) program in the EU up to a major valuation inflection point, explains the analyst. A strong pipeline of news catalysts is expected. The Speculative Buy rating is retained.
Sector: Pharmaceuticals, Biotechnology & Life Sciences.
Target price is $0.58.Current Price is $0.23. Difference: $0.35 – (brackets indicate current price is over target). If ANP meets the Morgans target it will return approximately 60% (excluding dividends, fees and charges – negative figures indicate an expected loss).