Piper Jaffray Slashes Price Target for Repros Therapeutics Inc on Back of Androxal Approval Concerns

In a research report published Thursday, Piper Jaffray analyst Joshua Schimmer reiterated a Neutral rating on shares of Repros Therapeutics Inc (NASDAQ:RPRX), while reducing the price target to $2.00 (from $9.00), following today’s news that the FDA canceled the Ad Comm scheduled for Nov 3 to discuss approval of Androxal for secondary hypogonadism.

Schimmer wrote, “Concerns regarding the lab methodology/bioanalytical validation was cited in the press release as the reason for the cancellation. However, on the call it sounded clear based on the company’s preview of the FDA’s briefing documents that the concern leading to cancellation was as much around the question of the appropriate patient population to study. This has been our concern all along and the reason we remain Neutral on shares as we lack confidence in a path forward given the hypogonadism conundrum. Our PT falls to $2, reflecting the company’s cash/share. We are removing Androxal from our model.”

The analyst concluded, “We await a path forward for Androxal, but it is clear from the call that the company is not expecting NT approval. We do not expect RPRX will be able to find a suitable path forward.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joshua Schimmer has a total average return of -4.4% and a 41.8% success rate. Schimmer has a 18.7% average return when recommending RPRX, and is ranked #3610 out of 3808 analysts.

Out of the 4 analysts polled by TipRanks, 3 rate Repros Therapeutics stock a Buy, while 1 rates the stock a Neutral. With a return potential of 1306%, the stock’s consensus target price stands at $29.25.



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