Analyst: This Penny Stock Could Triple

Euro Pacific Capital thinks upbeat data could snag COCP a large-pharma partner -- or suitor

Jul 17, 2018 at 11:12 AM
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Biotech stock Cocrystal Pharma Inc (NASDAQ:COCP) is higher this morning, thanks to some bullish attention from analysts. Specifically, Euro Pacific Capital initiated coverage of COCP with a "buy" rating and $14 price target -- representing expected upside of more than 200% to the security's close of $4.34 yesterday. At last check, COCP shares have jumped 4.4% to trade at $4.53.

Digging deeper, the brokerage firm said the market opportunity for hepatitis C infection (HCV) products is "one of the biggest in pharma," and expressed confidence in Cocrystal's management -- in particular, board chairman Dr. Raymond F. Schinazi, co-founder of two pharma companies that were ultimately scooped up by Gilead Sciences (GILD) and Merck (MRK). What's more, Euro Capital thinks positive data "could cause larger pharma to either partner for the development of CC-31244 or to acquire COCP outright."

Cocrystal Pharma stock has already surged 181% since touching a record low of $1.61 in early May. Now, the shares are on pace to retake their 160-day moving average for the first time in 2018. This trendline served as support for COCP in late 2017, and could resume its role as a foothold if today's rally holds.

cocp stock daily price chart on july 17

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