Anebulo Pharmaceuticals initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Anebulo Pharmaceuticals with a Buy rating and $6 price target. Anebulo is an emerging specialty biopharmaceutical company focusing on the development of a novel therapy for acute cannabinoid intoxication, the analyst tells investors in a research note. The firm says this constitutes a “green field” opportunity, since there are approximately 2.1M cases of ACI presenting in emergency departments across the United States each year without any specific therapeutics approved to treat these cases.