Wedbush Downgrades Raptor Pharmaceuticals (RPTP) to Neutral
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Price: $9.00 --0%
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush downgraded Raptor Pharmaceuticals (NASDAQ: RPTP) from Outperform to Neutral with a price target of $7.00 (from $10.00).
Analyst Gregory R. Wade said "We expect a decision from the FDA’s Office of Orphan Drugs on PROCYSBI’s potential orphan drug exclusivity in the next 6-8 weeks to be the next catalyst for RPTP shares. PROCYSBI has orphan drug designation, but a decision on orphan drug exclusivity, which would ensure at least 7 year of exclusivity, has not yet been rendered. PROCYSBI’s patents expire in 2027 . . .We arrive at our $7 price target by applying a 15x multiple to fully taxed (40%) 2016 EPS discounted annually 20%."
For an analyst ratings summary and ratings history on Raptor Pharmaceuticals click here. For more ratings news on Raptor Pharmaceuticals click here.
Shares of Raptor Pharmaceuticals closed at $6.68 yesterday.
Analyst Gregory R. Wade said "We expect a decision from the FDA’s Office of Orphan Drugs on PROCYSBI’s potential orphan drug exclusivity in the next 6-8 weeks to be the next catalyst for RPTP shares. PROCYSBI has orphan drug designation, but a decision on orphan drug exclusivity, which would ensure at least 7 year of exclusivity, has not yet been rendered. PROCYSBI’s patents expire in 2027 . . .We arrive at our $7 price target by applying a 15x multiple to fully taxed (40%) 2016 EPS discounted annually 20%."
For an analyst ratings summary and ratings history on Raptor Pharmaceuticals click here. For more ratings news on Raptor Pharmaceuticals click here.
Shares of Raptor Pharmaceuticals closed at $6.68 yesterday.
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