Needham & Company Starts Zealand Pharma A/S (ZEAL) at Buy

Needham & Company initiates coverage on Zealand Pharma A/S (NASDAQ: ZEAL) with a Buy rating and a price target of $26.00.

Analyst Alan Carr notes lead drugs glepaglutide and dasiglucagon are entering Phase 3 development for Short Bowel Syndrome and Acute Severe Hypoglycemia, respectively.

"Based on Phase 2 data, we expect favorable outcomes, with dasiglucagon reaching the market as an emergency rescue injection pen in 2020 (Peak $360M U.S. by collaborator 2030) and glepaglutide as a daily or possibly weekly injection pen in 2021 (Peak $500M U.S. by Zealand 2030)," the analyst commented.

Further, the company is also exploring dasiglucagon in pumps for Type 1 Diabetes and rare disease Congenital Hyperinsulinism, although they have not included these effort in their valuation analysis.

For an analyst ratings summary and ratings history on Zealand Pharma A/S click here. For more ratings news on Zealand Pharma A/S click here.

Shares of Zealand Pharma A/S closed at $19.65 yesterday.

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