UPDATE: BTIG Starts Seelos Therapeutics (SEEL) at Buy

March 11, 2021 4:19 PM EST
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Price: $2.84 -4.05%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 11 | New: 50
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(Updated - March 11, 2021 4:51 PM EST)

BTIG analyst Bob Hazlett initiates coverage on Seelos Therapeutics (NASDAQ: SEEL) with a Buy rating and a price target of $14.00.

The analyst commented, "Seelos is a clinical stage biopharmaceutical company focused on the development of therapeutics for the CNS and other rare diseases. Its lead clinical candidate SLS-002, is an intranasally delivered racemic ketamine, which is moving into potentially pivotal development for the treatment of patients with acute suicidal ideation and behavior (ASIB) with major depressive disorder (MDD). SLS-002 has the potential to address an important unmet need in a broad patient population. We believe there is material potential for a rapid-acting, convenient intranasal version of ketamine focused on emergency room (ER) use, where the effect of a REMS could be minimal compared to other settings. We believe Seelos could benefit materially from the successful development of SLS-002 for that use, and for an indication to treat depression (MDD). With the potential for rapid advancement of SLS-002, as well as for the development of other pipeline programs for ALS and Parkinson’s, among others, we initiate coverage of Seelos and SEEL shares with a Buy rating and a $14 price target."

For an analyst ratings summary and ratings history on Seelos Therapeutics click here. For more ratings news on Seelos Therapeutics click here.

Shares of Seelos Therapeutics closed at $2.95 yesterday.

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