UPDATE: H.C. Wainwright Starts scPharmaceuticals (SCPH) at Buy

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(Updated - October 15, 2019 7:41 AM EDT)

(updated to add analyst comments)

H.C. Wainwright analyst Douglas Tsao initiates coverage on scPharmaceuticals (NASDAQ: SCPH) with a Buy rating and a price target of $13.00.

The analyst commented, "scPharmaceuticals is a specialty pharmaceuticals company focused on developing drug delivery combination products that can improve patient care and drive favorable health economic outcomes. The company's lead asset, Furoscix, is drug-device combination that subcutaneously delivers the diuretic furosemide (Lasix) for the treatment of hypervolemia in heart failure patients. Furoscix has proven itself just as effective as intravenous Furoscix, offering a bridge between that proven delivery method and oral therapy, which is plagued by poor bioavailability. The ineffectiveness of oral therapy is why so many heart failure patients windup in the hospital as either admissions or readmissions. Investors fled shares after the company received a CRL from the FDA for Furoscix in June 2018 based largely on concerns regarding the original devices robustness, though after switching to a new device, we think the company is now on track for approval by the end of 2020. The company should complete a key human factor study in by year end, which we think should prove to be catalysts for shares."

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

Shares of scPharmaceuticals closed at $5.90 yesterday.

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