Burrill Starts Prana Biotechnology (PRAN) at Market Outperform

December 20, 2012 8:40 AM EST
Get Alerts PRAN Hot Sheet
Price: $2.55 -1.54%

Rating Summary:
    2 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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Burrill initiates coverage on Prana Biotechnology (NASDAQ: PRAN) with a Market Outperform. PT $5.00.

The firm comments, "We are initiating coverage on Prana Biotechnology, that is developing a platform technology to address the potential causes of neurodegenerative disorders. Prana is undervalued relative to its peer group, in our view."

"We believe that Prana could be valued at par with the average of a comparable group of drug developers with multiple Phase 2 assets, which trade at an enterprise value of $174MM."

For an analyst ratings summary and ratings history on Prana Biotechnology click here. For more ratings news on Prana Biotechnology click here.

Shares of Prana Biotechnology closed at $2.18 yesterday.

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