Biora shares ‘reaching a key tipping point,’ says H.C. Wainwright

H.C. Wainwright reiterates a Buy rating on Biora Therapeutics (BIOR) with a $50 price target after the company released results from a preclinical study conducted in a collaboration with AstraZeneca (AZN). BioJet improved bioavailability of pharma molecule compared to traditional routes of administration in preclinical model, the analyst tells investors in a research note. The firm says the disclosure of AstraZeneca’s interest in the BioJet device is “a significant indication of interest the device is attracting.” Wainwright believes today’s announcement “is just another feather in the BioJet’s cap.” It thinks Biora shares “are reaching a key tipping point” stemming from both the upcoming launch and execution of clinical trials and on the potential progress being made on business development.