Alliance Global Partners upgrades Qualigen (QLGN +4.0%) to Buy with a $10 (107% upside) price target. In a note, analyst James Molloy regards the company as a “compelling opportunity” in cancer detection and treatment.
It currently markets its FastPack System for detecting prostate cancer, thyroid function and metabolic disorders. It plans to launch the FastPack PRO SARS-CoV-2 IgG antibody test this quarter.
Lead therapeutic candidate is AS1411, a G-rich oligonucleotide that binds to a protein called nucleolin that is present on the surface of cancer cells.
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