Zacks Investment Research upgraded shares of Brain Resource (BRRZY) from N/A to OUTPERFORM on June 13, 2012, with a target price of $3.50.
Brain Resource's iSPOT studies are the world's largest clinical trial to predict treatment response in depression and ADHD through the identification of relevant biomarkers. Findings will be used to develop the first companion diagnostics for treatment of depression and ADHD, both of which are currently medicated using the inefficient and often ineffective trial-and-error approach. Discussions with FDA relative to the regulatory pathway are ongoing. Assuming FDA approval and subsequent launch (2014?), these products are expected to be the long-term driver of BRRZY's revenue. If however, there are delays with FDA approval relative to our current assumptions, this could present significant risk to our outlook. In the meantime, BRRZY will look to grow the customer bases and related revenue of its two current web-based brain health products. We are initiating coverage of Brain Resource with a $3.50 per ADR price target and Outperform rating.
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