UBS Reiterates Buy on Neos Therapeutics (NEOS) - PT to $12
- 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.
UBS maintained a Buy rating on Neos Therapeutics (NASDAQ: NEOS), and cut the price target to $12.00 (from $14.00), following the company's 3Q earnings report. NEOS reported EPS of -$1.61, ahead of estimates of -$1.57.
Analyst Marc Goodman commented, "(1) While revenues were in-line, higher COGS (-$1.4M) offset by lower SG&A (-$0.3M) and R&D (-$1.1M) drove the miss. (2) Adzenys now has access to 83% (70% in 2Q16) of commercial lives. (3) Mgt noted that the Adzenys launch is progressing as planned, and that TRx growth is outperforming other recently launched ADHD medications like QuilliChew ER (Pfizer) and Dyanavel XR (Tris). (4) Both Cotempla and liquid amphetamine XR are on track for submission in 4Q and launch in 2H17. (5) Re S&M, mgt expects 4Q to be below the prior two qtrs, and 2017 to be below 2016. Further, mgt expects 4Q R&D to be higher than 3Q due to PDUFA fees."
Shares of Neos Therapeutics closed at $7.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bassett Furniture (BSET) PT Raised to $28 at Stifel Following 4Q EPS Beat
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- IBM (IBM): Closer Look Shows The - Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesUBS, Earnings, PDUFA
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!