Leerink Swann Starts QLT Inc (QLTI) at Outperform, Sees New Drug Bringing In Over $260 Million At Peak in U.S.
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Price: $27.85 -0.25%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Leerink Swann initiates coverage on QLT Inc (NASDAQ: QLTI) with an Outperform rating and a valuation range of $12-$13.
The firm is initiating with an Outperform rating as the company has a drug in its pipeline that has the potential to restore vision in a remarkable fashion for a group of patients with congenital blindness. The drug, QLT091001, has been seen in a subset of patients with Leber's Congenital Amaurosis. Some tests must still be ran, but the overall story looks positive for the company.
The population that this drug will affect is only roughly 950 patients in the U.S. at its peak, but at $275,000/year for therapy, this yields peak U.S. revenues of $250 million.
For more ratings news on QLT Inc click here and for the rating history of QLT Inc click here.
Shares of QLT Inc closed at $7.25 yesterday.
The firm is initiating with an Outperform rating as the company has a drug in its pipeline that has the potential to restore vision in a remarkable fashion for a group of patients with congenital blindness. The drug, QLT091001, has been seen in a subset of patients with Leber's Congenital Amaurosis. Some tests must still be ran, but the overall story looks positive for the company.
The population that this drug will affect is only roughly 950 patients in the U.S. at its peak, but at $275,000/year for therapy, this yields peak U.S. revenues of $250 million.
For more ratings news on QLT Inc click here and for the rating history of QLT Inc click here.
Shares of QLT Inc closed at $7.25 yesterday.
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