UBS Reiterates Buy on Neos Therapeutics (NEOS) - PT to $12
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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.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesUBS, Earnings, PDUFA
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