Assembly Biosciences recent selloff a buying opportunity, says Jefferies

Assembly Biosciences shares have been trading down over the past two days on “uncertainty and some nervousness” around Hec Pharma’s data with GLS4 that will be presented at the American Association for the Study of Liver Diseases annual meeting, Jefferies analyst Michael Yee tells investors in a research note. However, the analyst believes the data have no good read through to Assembly’s program. There are a number of differences that would explain clearly why the Hec Pharma data is modest and why Assembly should have much better data with its Phase II in the first half of 2019, Yee contends. He views the stock selloff as an overreaction and sees a buying opportunity at current levels. Yee keeps a Buy rating on Assembly Biosciences with a $75 price target.

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