UPDATE: Jefferies Starts Cincor Pharma Inc (CINC) 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
Jefferies analyst Dennis Ding initiates coverage on Cincor Pharma Inc (NASDAQ: CINC) with a Buy rating and a price target of $30.00.
The analyst comments "CINC has a differentiated pill, CIN-107, for difficult to treat high blood pressure in Phase II, plus a slew of other indications, also with blockbuster potential, in Phase I/II. We believe there is a rich catalyst path over the next 12-18 months and, with continued derisking, this could drive the stock towards a $1B+ market cap with long-term M&A optionality, too. Initiate at Buy."
Shares of Cincor Pharma Inc closed at $19.07 yesterday.
You May Also Be Interested In
- Morgan Stanley Starts Rocket Pharmaceuticals (RCKT) at Overweight, Sees Over 100% Upside
- Sun Pharmaceutical Industries Ltd. (SUNP:IN) PT Raised to INR1,223 at Bernstein
- Advanced Micro Devices (AMD) a victim of its own success - Craig-Hallum
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!