Wedbush Starts Cleveland BioLabs (CBLI) at Outperform; Expect Gov't Supply Contract
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Price: $1.66 +1.22%
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CBLI Now!
Wedbush initiates coverage on Cleveland BioLabs (NASDAQ: CBLI) with a Outperform. PT $10.
Wedbush analyst says, "CBLI is developing CBLB502 (an injectable protein) as a treatment for Acute Radiation Syndrome (ARS) and as a radioprotectant in radiation oncology...CBLI’s human studies have shown CBLB502 to be safe in a Phase I/II study; animal studies have demonstrated protection against ARS...We estimate the total market to be $300 million in annual revenues, taking into account military, civilian and likely foreign demand for CBLB502...We expect that Cleveland BioLabs will be awarded a contract to supply the US government with CBLB502 to prevent ARS in the event of a radiological event."
For more ratings news on Cleveland BioLabs click here and for the rating history of Cleveland BioLabs click here.
Shares of Cleveland BioLabs closed at $6.60 yesterday, with a 52 week range of $2.80-$7.90.
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Wedbush analyst says, "CBLI is developing CBLB502 (an injectable protein) as a treatment for Acute Radiation Syndrome (ARS) and as a radioprotectant in radiation oncology...CBLI’s human studies have shown CBLB502 to be safe in a Phase I/II study; animal studies have demonstrated protection against ARS...We estimate the total market to be $300 million in annual revenues, taking into account military, civilian and likely foreign demand for CBLB502...We expect that Cleveland BioLabs will be awarded a contract to supply the US government with CBLB502 to prevent ARS in the event of a radiological event."
For more ratings news on Cleveland BioLabs click here and for the rating history of Cleveland BioLabs click here.
Shares of Cleveland BioLabs closed at $6.60 yesterday, with a 52 week range of $2.80-$7.90.
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