Needham & Company Maintains a 'Buy' on NuPathe (PATH); Zelrix Profile Continues to Grow Ahead of August FDA Action Date
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Price: $16.01 -4.02%
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on NuPathe (NASDAQ: PATH) price target of $12.00.
Needham analyst says, "While PATH’s quarterly results remain fairly inconsequential given the company’s development stage status and absence of currently marketed products and revenue, the company is rapidly approaching a major inflection point, the late August PDUFA date for Zelrix, a first in class transdermal sumatriptan formulation for treatment of migraine. While management wouldn’t address specifics of ongoing interaction with FDA regarding the Zelrix review on its conference call to discuss 1Q11 financials, our impression is that confidence levels at this stage of the game appear high though obviously this is a less than perfect barometer of a successful FDA outcome. In the meantime, commercial efforts continue in earnest to boost awareness ahead of projected launch in early 2012. Management believes continued awareness around the presence of migraine related nausea and vomiting as limiting factors in effective migraine treatment, which received a big boost with the publication of the American Migraine Prevalence and Prevention (AMPP) study, bodes well for positioning of Zelrix given its highly favorable anti-nausea profile. We continue to believe that as a single-use transdermal triptan patch, Zelrix will emerge as an effective and differentiated therapy in the $2B-plus anti-migraine market."
For more ratings news on NuPathe click here and for the rating history of NuPathe click here.
Shares of NuPathe closed at $5.10 yesterday.
Needham analyst says, "While PATH’s quarterly results remain fairly inconsequential given the company’s development stage status and absence of currently marketed products and revenue, the company is rapidly approaching a major inflection point, the late August PDUFA date for Zelrix, a first in class transdermal sumatriptan formulation for treatment of migraine. While management wouldn’t address specifics of ongoing interaction with FDA regarding the Zelrix review on its conference call to discuss 1Q11 financials, our impression is that confidence levels at this stage of the game appear high though obviously this is a less than perfect barometer of a successful FDA outcome. In the meantime, commercial efforts continue in earnest to boost awareness ahead of projected launch in early 2012. Management believes continued awareness around the presence of migraine related nausea and vomiting as limiting factors in effective migraine treatment, which received a big boost with the publication of the American Migraine Prevalence and Prevention (AMPP) study, bodes well for positioning of Zelrix given its highly favorable anti-nausea profile. We continue to believe that as a single-use transdermal triptan patch, Zelrix will emerge as an effective and differentiated therapy in the $2B-plus anti-migraine market."
For more ratings news on NuPathe click here and for the rating history of NuPathe click here.
Shares of NuPathe closed at $5.10 yesterday.
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