INSYS (INSY) Syndros Should Have Solid Uptake - Piper Jaffray

Piper Jaffray analyst David Amsellem reiterated an Overweight rating and $28 price target on INSYS Therapeutics (NASDAQ: INSY) after the FDA approved Syndros. He said uptake should be solid irrespective of DEA scheduled.

Amsellem notes INSY is waiting on a controlled substance designation from the Drug Enforcement Agency (DEA). "That said, we would argue that even a more restrictive schedule II designation would not have a major impact on Syndros' sales potential. We believe peak sales of $300M-$400M+ are realistic. We further believe that a long-term EPS CAGR of around 25%-30% (reflecting contribution from Syndros and Subsys only) is realistic, translating into what we see as an attractive valuation in the context of a 2017 P/E of 13x our estimate."

For an analyst ratings summary and ratings history on INSYS Therapeutics click here. For more ratings news on INSYS Therapeutics click here.

Shares of INSYS Therapeutics closed at $13.47 yesterday.

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