UPDATE: Brookline Capital Markets Starts FSD Pharma Inc (HUGE) at Buy
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(Updated - August 20, 2020 1:56 PM EDT)
(Updated to add analyst comment)
Brookline Capital Markets analyst Kumaraguru Raja initiates coverage on FSD Pharma Inc (NASDAQ: HUGE) with a Buy rating and a price target of $11.00.
Analyst says: "We are initiating on FSD Pharma with a Buy rating and a Price Target of $11 based on potential of FSD201 in treating COVID-19. FSD201 could also be potentially developed for osteoarthritis of knee, endometriosis, and chronic pain. It has a novel mechanism of action by stimulating the CB2 receptor. FSD201 has potential in other disease
areas like pain where endocannabinoid system has been shown to play a role. We see a favorable risk-reward proposition as the pipeline advances."
Shares of FSD Pharma Inc closed at $2.76 yesterday.
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