Piper Jaffray Starts Neothetics Inc. (NEOT) at Overweight

Piper Jaffray initiates coverage on Neothetics Inc. (NASDAQ: NEOT) with a Overweight rating and a price target of $20.00.

Analyst David Amsellem comments, "NEOT, in our view, is well positioned to expand and transform the emerging body contouring space with LIPO-202, an injectable form of the beta-agonist salmeterol for the localized reduction of abdominal fat in non-obese individuals. We believe that the probability of success for LIPO-202 in Phase III (data are expected before the end of 2015) is strong given the body of data to date, and with U.S. sales potential of at least $500-$600M, in our view (we are modeling a U.S. launch in 2H17 with NEOT reaching profitability in 2020, and with LIPO-202 sales reaching near $225M by 2021), NEOT shares in our view are trading at a highly attractive risk/reward in the context of a market cap of around $100M."

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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