Zacks Investment Research upgraded shares of Assembly Biosciences (NASDAQ:ASMB) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $72.00 price target on the biopharmaceutical company’s stock.
According to Zacks, “Assembly Biosciences, Inc. is a biopharmaceutical company. It develops therapies for infectious diseases and other disorders of the gastrointestinal (GI) system. Assembly’s product portfolio consists of two late stage assets: VEN 307 for relief from pain associated with anal fissures and VEN 308 for the treatment of fecal incontinence. The Company is also developing novel microbiome-based technology for targeted oral delivery of therapeutic bacteria, complex proteins, viral antigens and small molecules to treat intractable infectious diseases of the GI tract, such as C. difficile infections. Assembly Biosciences Inc., formerly known as Ventrus Biosciences, Inc., is based in New York. “
A number of other brokerages also recently weighed in on ASMB. Jefferies Group boosted their price target on shares of Assembly Biosciences to $75.00 and gave the stock a buy rating in a report on Thursday, March 8th. BidaskClub raised shares of Assembly Biosciences from a hold rating to a buy rating in a report on Tuesday, January 30th. ValuEngine raised shares of Assembly Biosciences from a sell rating to a hold rating in a report on Saturday, February 3rd. Finally, B. Riley initiated coverage on shares of Assembly Biosciences in a report on Friday, January 5th. They issued a neutral rating and a $35.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $54.25.
In related news, Director William R. Ringo sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $46.86, for a total value of $46,860.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 3,000 shares of company stock worth $148,270 over the last 90 days. 19.60% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ASMB. Wells Fargo & Company MN bought a new stake in shares of Assembly Biosciences during the second quarter valued at about $213,000. Nationwide Fund Advisors bought a new position in shares of Assembly Biosciences in the second quarter worth approximately $161,000. New York State Common Retirement Fund bought a new position in shares of Assembly Biosciences in the second quarter worth approximately $310,000. Northern Trust Corp increased its position in shares of Assembly Biosciences by 221.2% in the second quarter. Northern Trust Corp now owns 195,321 shares of the biopharmaceutical company’s stock worth $4,033,000 after purchasing an additional 134,513 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Assembly Biosciences by 21.2% in the second quarter. Vanguard Group Inc. now owns 610,916 shares of the biopharmaceutical company’s stock worth $12,615,000 after purchasing an additional 107,065 shares during the last quarter. Hedge funds and other institutional investors own 77.26% of the company’s stock.
About Assembly Biosciences
Assembly Biosciences, Inc is a biotechnology company. The Company is engaged in developing two platform programs, such as a class of oral therapeutics for the treatment of hepatitis B virus (HBV) infection, and a class of oral synthetic live therapeutics, which are designed to restore health to a dysbiotic microbiome.
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