Evelo Biosciences (EVLO) Receives a Hold from Chardan Capital

Chardan Capital analyst Keay Nakae reiterated a Hold rating on Evelo Biosciences (EVLOResearch Report) today and set a price target of $12.00. The company’s shares closed last Thursday at $10.11.

According to TipRanks.com, Nakae is a 5-star analyst with an average return of 21.7% and a 45.3% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Lineage Cell Therapeutics, and Adverum Biotechnologies.

Currently, the analyst consensus on Evelo Biosciences is a Moderate Buy with an average price target of $23.80.

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Evelo Biosciences’ market cap is currently $539.6M and has a P/E ratio of -4.50. The company has a Price to Book ratio of 6.14.

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Evelo Biosciences, Inc. operates as a clinical stage biotechnology company. The firm engages in the development of monoclonal microbials, a modality of oral biologic medicines. It has three product candidates, EDP1066 and EDP1815 for the treatment of inflammatory diseases and EDP1503 for the treatment of cancer. The company was founded by Noubar B. Afeyan and David A. Berry in 2014 and is headquartered in Cambridge, MA.