Jefferies Starts Pardes Biosciences (PRDS) at Buy
- Wall St rallies as Fed's Powell nods to easing inflation after rate hike
- Meta Platforms shares surge 17% on Q4 revenue beat while profits fall 55%
- Fed's Powell says could raise rates beyond December, gives nod to disinflation
- Fed hikes by 0.25% in further downshift on tightening, but sees more hikes ahead
- AMD shares rise after Q4 report that beat expectations for revenue, EPS
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Jefferies analyst Dennis Ding initiates coverage on Pardes Biosciences (NASDAQ: PRDS) with a Buy rating and a price target of $25.00.
The analyst commented, "Convenient oral pills to broadly treat COVID will drive the world towards an endemic phase and unlock economic recovery since new variants have reduced efficacy from antibodies and vaccines. PRDS has a potent antiviral pill targeting SARS-CoV-2 regardless of variant and has already been partially derisked by competitor PFE with strong efficacy. PRDS is starting pivotal by mid-2022 with many catalysts over next 6-18 months yet only $1B market cap. "
Shares of Pardes Biosciences closed at $13.95 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley Starts Rocket Pharmaceuticals (RCKT) at Overweight, Sees Over 100% Upside
- JPMorgan Downgrades Grab Holdings Inc. (GRAB) to Underweight, 'Recommend tactical UW on risk of earnings missing expectations'
- Several positive 2023 catalysts can boost TransUnion (TRU) valuation - BofA
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!