Rodman & Renshaw analyst Michael King Jr. initiates coverage on (NASDAQ: QNTM) with a Buy rating and a price target of $8.00.

The analyst comments "We are initiating coverage of Quantum BioPharma with a BUY rating and $8 price target based on LUCID-MS, a potentially first-in-class non-immunomodulatory small molecule positioned to address neurodegeneration and disability progression in progressive multiple sclerosis, where therapeutic options remain limited."

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Shares of closed at $3.08 yesterday.