H.C. Wainwright Starts DARA BioSciences (DARA) at Buy, PT $2

H.C. Wainwright initiated coverage on DARA BioSciences (NASDAQ: DARA) with a Buy rating and a price target of $2.00. Analyst Reni Benjamin views the stock as an undiscovered opportunity.

"DARA Biosciences’ core franchise is comprised of niche-marketed therapeutics encompassing cancer supportive care. The company’s sole developmental compound, KRN5500, is a spicamycin analog that is slated to move forward in cancer patients with peripheral neuropathy, once the Phase 2 clinical trial protocol is finalized with the FDA. With a modest revenue generating pipeline, the potential to move KRN5500 in to the clinic, and a pro forma cash position of $10.0 MM, sufficient to fund operations until mid-2016, we believe DARA shares could appreciate for the patient, long-term investor," said Benjamin.

For an analyst ratings summary and ratings history on DARA BioSciences click here. For more ratings news on DARA BioSciences click here.

Shares of DARA BioSciences closed at $0.77 yesterday.

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