Tobira Therapeutics (TBRA) PT Raised to $45 at Leerink
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Leerink Partners analyst Joseph Schwartz reiterated an Outperform rating and raised his price target on Tobira Therapeutics (NASDAQ: TBRA) to $45.00 (from $15.00) after late-breaking abstracts for the American Academy for the Study of Liver Diseases (AASLD) Meeting.
Schwartz commented, "TBRA is a pioneer in the nonalcoholic steatohepatitis (NASH) development space, and we believe that the current stock price somewhat undervalues the acquisition terms based on the most probable outcomes and contingent value rights' (CVR) conditions from Allergan (AGN, OP)."
Shares of Tobira Therapeutics closed at $40.18 yesterday.
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