Canaccord Genuity Initiates Coverage on Regado Biosciences (RGDO)
Stock analysts at Canaccord Genuity began coverage on shares of Regado Biosciences (NASDAQ:RGDO) in a report issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $14.00 price target on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 204.35% from the stock’s previous close.
The analysts wrote, “We see REG1 as a highly innovative new anticoagulant that could improve outcomes across a large number of CV procedures, starting with NSTEMI PCI. We think Regado’s imminent Phase 3 REGULATE trial will yield top-line success in late 2015, showing REG1 to have a drug profile superior to that of comparator Angiomax. We also think REGULATE interim safety looks, the first expected in Q1/14, will be positive. We estimate peak REG1 worldwide sales of $2.5B, and our $14 target is based on a pNPV analysis of the drug’s worldwide potential.”
Regado Biosciences (NASDAQ:RGDO) opened at 5.30 on Monday. Regado Biosciences has a 52 week low of $4.27 and a 52 week high of $5.38. The stock’s 50-day moving average is $4.78 and its 200-day moving average is $4.78. The company’s market cap is $108.0 million.
Regado Biosciences, Inc is a biopharmaceutical company focused on the discovery and development of actively controllable antithrombotic drug systems for acute and sub-acute cardiovascular indications.
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