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Jefferies Raises Price Target on NeuroDerm (NDRM) to $42

December 9, 2016 7:32 AM EST
Get Alerts NDRM Hot Sheet
Price: $38.85 --0%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Jefferies reiterated a Buy rating on Neuroderm Ltd (NASDAQ: NDRM), and raised the price target to $42.00 (from $40.00). After an FDA end-of-Phase II meeting, NeuroDerm plans to conduct comparative pharmacokinetic (PK) studies of ND0612L/H to pursue a bioavailability pathway, discontinuing Phase III efficacy studies.

Analyst Peter Welford commented, "We view a comparative bioavailability, rather than Phase III, US regulatory path for ND0612 to be lower risk and importantly suggests FDA is supportive of the product profile. This underscores our confidence for $1.7bn WW peak sales, now assuming 50% from 40% probability and unchanged 2019E launches. Our PT rises +5% to $42/share as the higher NPV is offset by dilution from the successful c.$75m follow-on."

For an analyst ratings summary and ratings history on Neuroderm Ltd click here. For more ratings news on Neuroderm Ltd click here.

Shares of Neuroderm Ltd closed at $19.10 yesterday.



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