Wedbush Starts AVI BioPharma (AVII) at Outperform; Advancing Nucleotide Drugs Targeting Molecular Machinery of Translation
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Price: $0.66 --0%
Rating Summary:
4 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 9 | New: 6
Rating Summary:
4 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 9 | New: 6
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Wedbush initiates coverage on AVI BioPharma (NASDAQ: AVII) with a Outperform. PT $4.
Wedbush analyst says, "We believe that the primary value driver for AVII’s stock is its PMO-technology-derived eteplirsen (AVI-4658) for Duchenne muscular dystrophy (DMD). We arrive at our $4/share price target by applying a 6x multiple to 2016 annual sales of AVI-4658 globally discounting back over 5.75 years at 30%...The company’s lead drug eteplirsen (AVI-4658) is an oligonucleotide designed to facilitate the skipping of exon 51 of the dystrophin gene; an approach that may be therapeutically beneficial to approximately 15% of DMD patients...AVII has been awarded $300 million in government contracts to support the development of antiviral candidates based on their PMOplus and related technologies."
For more ratings news on AVI BioPharma click here and for the rating history of AVI BioPharma click here.
Shares of AVI BioPharma closed at $1.61 yesterday.
Wedbush analyst says, "We believe that the primary value driver for AVII’s stock is its PMO-technology-derived eteplirsen (AVI-4658) for Duchenne muscular dystrophy (DMD). We arrive at our $4/share price target by applying a 6x multiple to 2016 annual sales of AVI-4658 globally discounting back over 5.75 years at 30%...The company’s lead drug eteplirsen (AVI-4658) is an oligonucleotide designed to facilitate the skipping of exon 51 of the dystrophin gene; an approach that may be therapeutically beneficial to approximately 15% of DMD patients...AVII has been awarded $300 million in government contracts to support the development of antiviral candidates based on their PMOplus and related technologies."
For more ratings news on AVI BioPharma click here and for the rating history of AVI BioPharma click here.
Shares of AVI BioPharma closed at $1.61 yesterday.
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