Aligos Therapeutics gains on brokerage rating upgrades

Aligos Therapeutics

06/01/2023 18:12

** Shares of drug developer Aligos Therapeutics Inc  ALGS.O 
up ~21% at $1.20
    ** Company said on Thursday it was on track to complete all
mid-stage enabling activities in 2023 for its experimental drug
to treat fatty liver disease
    ** Brokerage Piper Sandler believes ALGS's drug has a
competitive and potentially differentiated drug profile;
upgrades rating to "overweight" from "neutral" 
    ** Brokerage also raises PT to $3 from $2
    ** Jefferies upgrades rating on company's shares to "buy"
from "hold", raises PT to $3.00 from $2.50
    ** In 2022, ALGS stock fell nearly 92%
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))