Echelon ups ProMetic to speculative buy but cuts PT to 60 cents

Echelon Wealth Partners upgraded ProMetic Life Sciences (TSX:PLI) to “speculative buy” from “hold” but reduced its price target to 60 cents from $1 after the company announced plans for Phase 3 testing of its anti-fibrotic drug candidate, PBI-4050, initially in a rare genetic disorder, Alstrom Syndrome. The stock closed at 39 cents on Dec. 5.

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Stephen Kilmer