Cowen’s healthcare analyst Eric Schmidt weighed in today with a few insights on Radius Health Inc (NASDAQ:RDUS), following a meeting with CEO Bob Ward and members of the company’s management team. The analyst rates Radius Health shares an Outperfom, without providing a price target.
Schmidt noted, “Management indicated that NDA and MAA filings for abaloparatide-subcutaneous injection (abaloparatide-SC) remain on-track for YE while ex-U.S partnership discussions continue. Last week’s ASBMR meeting presentation was well received with specialists voicing enthusiasm for abaloparatide’s ability to reduce major fractures (70% vs. placebo) with rapid onset of BMD build, convenience (no need for refrigeration) with a clean safety profile.”
Furthermore, ” Management shared its vision for a scenario where abaloparatide’s could be used as “induction therapy” to rapidly build bones followed by “consolidation therapy” in the form of bisphosphonates or even Merck’s capthepsin K inhibitor (odanacatib) to maintain therapeutic benefits.”
The analyst concluded, “RDUS shares have been volatile, but fundamentals, including regulatory filings of abaloparatide-SC for osteoporosis, ex-U.S. partnership discussions, and Phase I data on RAD1901 for BrCA at SABCS remain on-track. We expect shares to appreciate as these milestones are achieved.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Eric Schmidt has a total average return of 29.6% and a 43.5% success rate. Schmidt has a -16.4% average return when recommending RDUS, and is ranked #80 out of 3773 analysts.
Out of the 6 analysts polled by TipRanks, 5 rate Radius Health stock a Buy, while 1 rates the stock a Hold. With a return potential of 21%, the stock’s consensus target price stands at $79.