Due to recent developments we have initiated coverage on Soligenix, Inc. Rated a strong buy we have a 6-9 month price target on SNGX of 3.00 with a much higher target anticipated (updates coming) dependant upon the recent Ricin news and coming implications. The initial news related source can be found here.
*** Soligenix is the world leader in the ricin toxin research and has received more than 20MM in grants in the development of RiVax. With the threat level high we anticipate a fast track and continued grant support to rush this to market.
Numerous analysts have come out with targets of 1.50+ but it is the view or BIG that they are under on the estimates of the upcoming OrBec launch and havn't taken into account the recent Ricin scare.
We are initiating our coverage at a strong buy with more coverage to follow.
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