Brickell Biotech rises after H.C. Wainwright initiates coverage with 'buy'

Fresh Tracks Therapeutics

18/01/2022 13:02

** Shares of pharmaceutical firm  BBI.O  jump 38.8% to a
near one-month high at 28 cents 
    ** Brokerage H.C. Wainwright initiates coverage on the stock
with a "buy" rating and a target price of $2
    ** The brokerage says that the initiation comes at a time
when BBI's late-stage asset, sofpironium bromide, is approaching
regulatory submission in the U.S.
    ** "In our view, sofpironium bromide is a risk-mitigated 
asset due to the fact that a closely related agent, Qbrexza 
(glycopyrronium), is already approved in the U.S." - Wainwright
analysts
    ** Based on the previous closing price, the stock traded
nearly 31% below its 50-day moving average of 29 cents and 
69.2% below its 200-day moving average of 65 cents 
    **  Two brokerages, Lake Street Capital and Oppenheimer,
rate the stock "buy" and "outperform", respectively, and their
median PT is $5    


 (Reporting by Shashank Nayar in Bengaluru)
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