Roth Boosts PT on Coronado (CNDO) to $1.70; Sidelined Until TSO, CNDO-109 Trajectory Clears Up

Roth Capital affirms its Neutral rating on Coronado Biosciences (Nasdaq: CNDO) and raises its price target from $1.60 up to $1.70 after the company announced earlier today that it has initiated a Phase 2a clinical trial of TSO (Trichuris suis ova or CNDO-201) for the treatment of pediatric patients with autism spectrum disorder (ASD) at multiple centers in the United States.

Analyst Joseph Pantginis commented, Coronado continues its "rebuild" following the negative TSO data in two Phase II studies. The broad potential anti-inflammatory effect of the therapeutic approach has shown preliminary evidence of activity in multiple indications, including MS, psoriasis and autism. KOL feedback on the autism front from earlier IST anecdotes suggests marked reductions in compulsive and negative social behavior so we look forward to seeing the data from this Phase IIa. However, autism represents a tough nut to crack and believe a high discount rate will be placed on the outcome of this study. In the meantime, Coronado is looking to leverage its strong cash balance by ramping up its business development activities.

For an analyst ratings summary and ratings history on Coronado Biosciences click here. For more ratings news on Coronado Biosciences click here.

Shares of Coronado Biosciences closed at $1.77 yesterday.

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