HCW starts Assembly Biosciences at neutral; PT $3.50

Assembly Biosciences

H.C.Wainwright initiated coverage of Assembly Biosciences (NASDAQ:ASMB) with a “neutral” rating and price target of $3.50. The stock closed at $3.23 on Sept. 10.

Assembly is focused on developing treatments for chronic hepatitis B virus (HBV) infections and specifically, a finite cure for patients infected with HBV, writes analyst ED Arce. 

HBV is well-recognized as a significant global health issue, with an estimated prevalence of more than 270 million individuals globally. Despite this, the currently approved HBV treatments only have an estimated cure rate of under 5%, and require life-long treatments. 

“Assembly’s approach to providing a sustainable, finite cure for HBV patient include its development of HBV core inhibitors that are designed to terminate viral HBV DNA replication, while exploring the potential of utilizing core inhibitors in a combination with other HBV treatments with distinct mechanisms of action,” Mr. Acre said.

“The ultimate goal of such treatment combination is to provide a functional cure by suppressing HBV replication, then eventually eliminating HBV DNA all together,” he added.