In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Foamix Pharma (NASDAQ: FOMX), with a price target of $14. The company’s shares closed yesterday at $5.92.
Selvaraju noted:
“Valuation methodology, risks and uncertainties. Our assessment of FMX101 has markedly improved in the wake of this latest data, which we believe not only increase the likelihood of regulatory approval but should also permit FMX101 to enter the U.S. market in 2020. Thus, our risk-adjusted net present value (rNPV) of FMX101 increases to $400M from the prior $300M, while our probability of success has been raised to 85% from the previous 75% to reflect the impact of the positive data from the most recently reported Phase 3 trial.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 2.2% and a 43.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Foamix Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $12.
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Based on Foamix Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $18.63 million. In comparison, last year the company had a GAAP net loss of $16.39 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock.
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Foamix Pharmaceuticals Ltd. is a pharmaceutical company, which focuses on the development and commercialization of proprietary, innovative and differentiated topical drugs for dermatological therapy. Its product portfolios include minocycline foam, minocycline gel, mometasone foam, calcipotriene foam, triamcinolone acetonide foam, betamethasone valerate foam, and betamethasone dipropionate. The company was founded by Dov Tamarkin and Meir Eini on January 19, 2003 and is headquartered in Rehovot, Israel.
