Piper Jaffray Resumes Metabasis Therapeutics (MBRX) with a Buy
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Piper Jaffray resumes coverage of Metabasis Therapeutics (NASDAQ: MBRX) with a Buy rating and a $4 price target.
The firm said, "We believe MBRX shares are attractive at current levels as they do not reflect the potential for upside from upcoming data releases as well as any possible partnership signings, which in our view could come as soon as in the next few quarters. Metabasis' pipeline is currently nearly completely unencumbered and boasts several compounds which could potentially address large markets including diabetes, hyperlipidemia, HBV and primary liver cancer. The company has been in active discussions to out-license several of its non-core clinical compounds in order to focus on the development of its cardio-metabolic compounds. We believe multiple partnership signings could drive potential value and further validate Metabasis' HepDirect technology."
Metabasis Therapeutics, Inc., a biopharmaceutical company, is focused on the discovery, development and commercialization of novel small molecule drugs for metabolic diseases linked to pathways in the liver.
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