Noble Financial Keeps Agile Therapeutics (AGRX) at 'Buy'; Q2 Results Inline, Key Phase 3 Data Expected in Q4

August 9, 2016 12:04 PM EDT
Get Alerts AGRX Hot Sheet
Price: $6.71 -0.74%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Noble Financial affirms Agile Therapeutics, Inc. (Nasdaq: AGRX) with a Buy rating and $15 price target after the company reported Q2 results late Tuesday.

Analyst Nathan Cali noted that results were largely as expected. The analyst also noted the following:

  • Expected phase III completion and planned phase II study slightly increases R&D estimates. R&D spend of $5.6 million slightly higher than $5.1 estimate, increasing full year R&D estimate from $20.2 million to $23.7 million to account for planned Phase II study
  • Additional pipeline asset may increase patient compliance. Current planning underway and plans to advance AG200-SP in Phase II trials Q1-2017; smaller, lower-dose application of Twirla use in fourth week of 28-day cycle, allows for continuous patch application; better contraception, compliance and reduced withdrawal bleeding
  • upcoming pivotal phase III data expected Q4-2016 and an NDA submission expected first half 2017, we estimate that the current cash balance $59.2 million is sufficient to extend operations into 2018

For an analyst ratings summary and ratings history on Agile Therapeutics click here. For more ratings news on Agile Therapeutics click here.



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