Cantor Fitzgerald Maintains Buy On Hyperion But Lowers Its PT To $38 After Termination Of DiaPep277


In a report released today, Cantor Fitzgerald analyst Irina Rivkind maintained a Buy rating on Hyperion Therapeutics, Inc. (NASDAQ:HPTX) but lowered the price target to $38 (from $43). This report followed a disclosure by the management that it found evidence of misconduct in the DiaPep277 Type I Diabetes clinical program.

Koffler noted: “We had modeled $284 million in peak sales in 2023, risk adjusted by 60% to contribute $170 million in peak sales to our model. We removed all revenues and expenses associated with the program from our estimates, which brings down our price target by $5. We therefore maintain our BUY rating and lower our PT to $38 from $43.” And concluded: “We are maintaining our expense estimates for the year, and management reiterated its operating expense guidance range of $66-78M for the year. The focus is now back on Ravicti, which will be the topic of the September 30 Analyst Day. We expect an update on the start date of the Ravicti HE program at that time.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Irina Rivkind has a total average return of 17.8% and a 62.5% success rate. Rivkind is ranked #153 out of 3291 analysts.

 

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