In a research report released today, Wedbush analyst Liana Moussatos reiterated an Outperform rating on Receptos Inc (NASDAQ:RCPT), after the biopharma company released its second-quarter results, with no revenue recorded, compared to consensus of $6.4 million, and a GAAP EPS (loss) of $(2.10) compared to $(1.18).
Moussatos offered some commentary on Celgene’s tender offer for Receptos, which is scheduled to close at midnight on August 24th, 2015. The analyst wrote, “We calculated an acquisition of RCPT to occur at a share price of about $348 or about $10.9 billion. Celgene previously stated that it expects Ozanimod’s annual peak sales to reach about $4-6 billion for RMS and UC but no credit for Crohn’s (psoriasis, SLE etc.) or the rest of the pipeline. Even if only $4-6 billion is counted, the proposed acquisition price of $7.2BN is only slightly more than ~1X peak sales. As a result, based on our valuation for RCPT, we continue to believe another bidder may come in as we see PLENTY of potential upside to justify a higher price.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Liana Moussatos has a total average return of 27.8% and a 48.7% success rate. Moussatos has a 131.6% average return when recommending RCPT, and is ranked #48 out of 3724 analysts.
All the 7 analysts polled by TipRanks rate Receptos Inc stock a Buy. With a downside potential of 22.9%, the stock’s consensus target price stands at $176.