UPDATE: Needham & Company Starts Clarus (CRXT) at Buy

October 6, 2021 6:02 AM EDT
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Price: $5.36 +2.68%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 13 | New: 72
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(Updated - October 6, 2021 6:03 AM EDT)

Needham & Company analyst Serge Belanger initiates coverage on Clarus (NASDAQ: CRXT) with a Buy rating and a price target of $12.00.

The analyst comments "We are initiating coverage of Clarus Therapeutics (CRXT), a specialty biopharma co. focused on the commercialization of Jatenzo, the first and only FDA-approved oral testosterone replacement therapy (TRT) for men suffering from hypogonadism (low-T). The TRT market, currently comprising injectables and topicals, consists of ~8MM annual Rxs and grew ~7% per per year in 2019 and 2020. Increasing awareness among physicians and hypogonadal men of how to treat low-T is expected to drive TRT market expansion. We expect Jatenzo's oral-dosing convenience to make the product the treatment of choice over non-oral treatments, as they are associated with administration challenges and poor treatment adherence. We believe Jatenzo can attain a 5%-7.5% share of the growing TRT market and generate peak sales of $300MM-$400MM by 2028/2029."

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

Shares of Clarus closed at $4.06 yesterday.

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