Wedbush analyst Liana Moussatos has high hopes for Receptos Inc (NASDAQ:RCPT), reiterating an Outperform rating on the stock, while increasing the company’s acquisition value to $348 (from $211). The new value represents nearly 90% potential upside based on current stock price.

Moussatos explained, “As the emerging clinical profile for ozanimod in RMS and UC has become best-in-class in our view, we anticipated Receptos to become an acquisition target. We estimate about 3 million treatable RMS and IBD patients, we project gross peak annual sales could reach over $15BN. In addition, RPC4046 (AbbVie can opt-in) could reach over $1BN and the oral GLP-1 could achieve another $5BN. Consequently, with a pipeline potentially worth over $21BN and in light of recent industry interest, we believe our $211/share is too low.”

Furthermore, “Our previous $211/share was based on Receptos receiving half of US sales, 25% of European, and 12.5% of rest-of-world. However, a global pharmaceutical company would not need to give away that much and if we adjust our valuation for a global pharma’s net peak annual sales and discount to year-end 2015 for our anticipated acquisition timing, we achieve $348/share or $10.9 billion market cap for an acquisition price.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Liana Moussatos has a total average return of 34.1% and a 52.9% success rate. Moussatos has a 113.3% average return when recommending RCPT, and is ranked #32 out of 3629 analysts.

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