Rodman & Renshaw Starts Ritter Pharmaceuticals (RTTR) at Buy, PT $7

Rodman & Renshaw initiates coverage on Ritter Pharmaceuticals (NASDAQ: RTTR) with a Buy rating and a price target of $7.00.

Analyst Raghuram Selvaraju said, "In our view, positive Phase 2/3 top-line data should enable Ritter to finalize its path with the FDA, which may involve only one confirmatory trial prior to submission of a New Drug Application (NDA) on RP-G28. The current trial is a double-blinded, placebo-controlled, three-arm, multicenter study evaluating safety, efficacy and tolerability of two doses of RP-G28 in moderate-to-severely lactose-intolerant patients. Enrollment of 377 subjects was accomplished between March and August 2016 across 18 U.S. sites. Patients underwent a 30-day treatment, followed by a 30-day post-treatment evaluation of dairy tolerance. A subset of subjects have been rolled into a 12-month extension study. The study is also evaluating each participant’s microbiome. We expect Ritter to report top-line results imminently, and for a confirmatory study to be conducted in the U.S., with results becoming available in 2018. RP-G28 could be filed for approval in the U.S. in 2019 and launched by a partner in 2020, in our view."

For an analyst ratings summary and ratings history on Ritter Pharmaceuticals click here. For more ratings news on Ritter Pharmaceuticals click here.

Shares of Ritter Pharmaceuticals closed at $2.89 yesterday.

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