Needham & Company Starts Neothetics Inc. (NEOT) at Buy

Needham & Company initiates coverage on Neothetics Inc. (NASDAQ: NEOT) with a Buy rating and a price target of $17.00.

Analyst Elliot Wilbur commented, "We initiate coverage of Neothetics (NEOT), a clinical-stage specialty pharma company focused on developing and commercializing innovative and differentiated products for the aesthetic market, with a Buy rating. NEOT’s leading product candidate, LIPO-202, is currently under development to address the reduction of central abdominal bulging due to subcutaneous fat (a.k.a. “love handles” and “stomach rolls”) in non-obese patients. LIPO-202 treatment consists of delivering salmeterol xinafoate into localized fat tissue in the central abdominal region to stimulate the metabolism of fat through lipolysis and effectively shrink fat cells. Given the efficacy and safety profile displayed by LIPO-202 in clinical trials, we believe the product has the potential to fill and expand a current unmet need in the body contouring market."

For an analyst ratings summary and ratings history on Neothetics Inc. click here. For more ratings news on Neothetics Inc. click here.

Shares of Neothetics Inc. closed at $7.49 yesterday.

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