Leerink Swann Starts Kythera Biopharmaceuticals (KYTH) at Outperform; Next Big Think in Facial Aesthetics

November 5, 2012 8:48 AM EST
Get Alerts KYTH Hot Sheet
Price: $74.98 --0%

Rating Summary:
    7 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Leerink Swann initiates coverage on Kythera Biopharmaceuticals (NASDAQ: KYTH) with a Outperform. PT $28.00.

The firm comments: "We recommend purchase of KYTH based on (1) compelling prospects for clinical and regulatory success in the US and Europe for a first-inclass product (ATX-101) for the treatment of submental (double chin) fat reduction, (2) evidence of strong physician demand for ATX-101 that supports US peak sales prospects of >$500M and will capitalize on the rapidly growing facial aesthetics market, (3) a deep management team with experience across pharma/biotech and cosmetic dermatology, (4) tiered royalties and regulatory and commercial milestones from partner Bayer Dermatology on OUS sales of ATX-101, and (5) upside to our revenue estimates for off-label use or new ATX-101 indications in other areas of the body."

For an analyst ratings summary and ratings history on Kythera Biopharmaceuticals click here. For more ratings news on Kythera Biopharmaceuticals click here.

Shares of Kythera Biopharmaceuticals closed at $22.11 yesterday.

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