Piper Jaffray Starts Sophiris Bio (SPHS) at Overweight
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Piper Jaffray initiates coverage on Sophiris Bio (NASDAQ: SPHS) with a Overweight rating and a price target of $7.00.
Analyst Charles Duncan commented, "We’re initiating on Sophiris with a $7 PT based on potential of its lead candidate topsalysin (PRX302) to usher-in a new paradigm in treating localized prostate cancer and BPH. Our valuation focuses on the earlier-stage prostate cancer indication, as we see greater risk-adjusted value in addressing this high unmet need and believe just two capital-efficient trials can bring 302 to market. Based on the differentiated clinical profile of 302 and promising hypothesis-generating Phase II results, including several CRs, we model first localized prostate cancer sales in 2020 and peak sales of $900M in 2033. In BPH, we believe 302 may offer a compelling “middle of the road” value proposition with respect to symptom control versus side effect profile and are supportive of further, partner-supported, development. With a strengthened balance sheet to advance 302 in prostate cancer, including a confirmatory, fully-funded Phase II to begin by YE16, we initiate at OW."
Shares of Sophiris Bio closed at $3.37 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
- UPDATE: SunTrust Robinson Humphrey Downgrades Simon Property Group (SPG) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesPiper Jaffray, Charles Duncan
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!