Wedbush Cuts Price Target on NuPathe (PATH) Following Complete Response Letter From FDA
Tweet
Share
E-mailGet Alerts PATH Hot Sheet
Price: $15.99 -0.12%
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Join SI Premium – FREE
Wedbush is maintaining its Outperform rating on shares of NuPathe (NASDAQ: PATH) and is lowering its price target from $20 to $17.
The company received a complete response letter for the Zelrix new drug application from the FDA. The FDA has questions about the chemistry, manufacturing, and safety of the drug, but believes that efficacy has been established.
PATH believes that this will be settled with the need of a non-clinical and/or a Phase 1 study and reiterated its launch guidance for the first half of 2012. The firm believes that it will push back the launch date by 6 months, which entails pushes back their full-year profitability projection to 2015 from 2014.
As a result of the news, Wedbush cut its 2012 EPS estimate from ($2.61) to ($3.17) and its revenue estimate from $16.6 million to $4.9 million.
For more ratings news on NuPathe click here and for the rating history of NuPathe click here.
Shares of NuPathe closed at $4.05 yesterday.
The company received a complete response letter for the Zelrix new drug application from the FDA. The FDA has questions about the chemistry, manufacturing, and safety of the drug, but believes that efficacy has been established.
PATH believes that this will be settled with the need of a non-clinical and/or a Phase 1 study and reiterated its launch guidance for the first half of 2012. The firm believes that it will push back the launch date by 6 months, which entails pushes back their full-year profitability projection to 2015 from 2014.
As a result of the news, Wedbush cut its 2012 EPS estimate from ($2.61) to ($3.17) and its revenue estimate from $16.6 million to $4.9 million.
For more ratings news on NuPathe click here and for the rating history of NuPathe click here.
Shares of NuPathe closed at $4.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UiPath Inc. (PATH) PT Raised to $15 at RBC Capital
- Deutsche Bank Downgrades SentinelOne Inc (S) to Hold on Valuation
- Canaccord Downgrades York Space Systems (YSS) to Hold, 'Supply chain and contract timing uncertainty'
Create E-mail Alert Related Categories
Analyst Comments, FDASign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
