0058 GMT - Microbia Life Sciences looks undervalued to Morgans analyst Iain Wilkie, who sees it benefiting from healthcare professionals' increasing awareness of the importance of gut health. Initiating coverage of the stock with a speculative buy rating, Wilkie tells clients in a note that he likes the look of the global diagnostic partnerships established by Microbia, which specializes in gut-health testing and therapeutic development. ASX-listed Sonic Healthcare is a major shareholder. Microbia offers a compelling opportunity for long-term investors as it progresses clinical-stage drug development and the role of gut microbiome across a range of conditions is better understood, he reckons. Morgans places a A$0.35 target price on the stock, which is flat at A$0.165. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 06, 2024 19:58 ET (00:58 GMT)
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