Maxim Group Raises Sucampo Price Target On The Back Of Double Digit Growth For Amitiza
In a research report released today, Maxim Group analyst Jason Kolbert reiterated a Buy rating on Sucampo (NASDAQ:SCMP) and raised his price target to $14 (from $10), which represents a potential upside of 47% from where the stock is currently trading.
Kolbert commented: “Though the constipation market is now very competitive, we were impressed with Amitiza sales exceeding our model predictions. We see Sucampo and Takeyda continuing build awareness and adoption among key physicians and pain management clinicians.The removal of generic risk for the next seven years was an important positive development that further lowers risk. We believe the company is now thinking about product acquisition opportunities too. All of these factors combined drive an increase in out price target to $14.00.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 4.2% and a 41.2% success rate. Kolbert has a -7.4% average return when recommending SCMP, and is ranked #877 out of 3363 analysts.