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Assembly Biosciences Stock Sizzles Following Phase 2a Announcement and Buy Rating from Mizuho

Streetwise Reports, Streetwise Reports
0 Comments| October 17, 2019

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Good news is piling up for this healthcare stock engaged in the treatment of hepatitis B as it trades at 5X its average volume with a 30% stock price gain over previous close.


Assembly Biosciences Inc (ASMB:NASDAQ) announced in a press release on October 16, 2019, "Phase 2a studies of ABI-H0731 + nucleos(t)ide analogs (Nrtl) in HBeAg+ patients show faster and deeper declines in HBV DNA and RNA with combination than Nrtl alone, as well as subsequent declines in the surrogate markers of cccDNA with long-term treatment."

It's good news for the company, which seeks to improve cure rates for individuals with chronic hepatitis B (HBV).

The announcement also highlights that data from the company's two lead core inhibitor programs will be featured at the AASLD (American Association for the Study of Liver Diseases) Annual Meeting, considered to be the premier conference in the U.S. for hepatitis B and other liver diseases.

Investors liked what they heard this morning, as they rewarded Assembly Biosciences with a 30% increase in its share price on trading volume reaching nearly 500% of average. Shares closed the previous day at $9.30 and have reached as high as $12.45 today.

How much room does this hot biotech stock have left to run? According to Mizuho Securities analyst Salim Syed, perhaps quite a bit more. The analyst initiated coverage today with a Buy rating and a price target of $20. The target may not be as aggressive as it appears at first glance, considering ASMB is still far from its all-time high of $100.80 in 2011, as well as its more recent high of $58.43 in 2018.

1) Kevin Jaillet compiled this article for Streetwise Reports LLC and is an employee of Streetwise Reports. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professional for medical advice.

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