Chardan Capital Keeps a Hold Rating on Assembly Biosciences (ASMB)

By Jason Carr

Chardan Capital analyst Taylor Feehley reiterated a Hold rating on Assembly Biosciences (ASMBResearch Report) today and set a price target of $30. The company’s shares opened today at $11.83, close to its 52-week low of $11.49.

Feehley observed:

“We are also encouraged by the initiation of the phase Ib clinical trial (NCT03923478) for ABI-M201, Assembly’s rationally-designed consortium live biotherapeutic product for UC. We broadly favor this approach to microbiome medicines (MMs) development. Assembly reported $173.8 mm in cash and cash equivalents, providing a runway into 2021.”

According to TipRanks.com, Feehley has 0 stars on 0-5 star ranking scale with an average return of -35.9% and a 0.0% success rate. Feehley covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Kaleido Biosciences Inc, and Evelo Biosciences Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Assembly Biosciences with a $33 average price target.

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Based on Assembly Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $18.5 million. In comparison, last year the company had a GAAP net loss of $26.81 million.

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Assembly Biosciences, Inc. is a biotechnology company, which engages in the development of products for infectious diseases, such as chronic hepatitis B virus and illnesses associated with a dysbiotic microbiome. It focuses in two innovative platform programs: oral therapeutics for the treatment of hepatitis B virus, and the oral synthetic live biotherapeutics candidate. The company was founded by Uri Lopatin on October 7, 2005 and is headquartered in Carmel, IN.