H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Ritter Pharmaceuticals (NASDAQ: RTTR) today and set a price target of $15. The company’s shares closed on Friday at $3.39.
Selvaraju commented:
“We note that the company recorded a net loss per share of $0.41, roughly in-line with our projection of a net loss per share of $0.42. Investors should note that the prior quarterly numbers reflect pre-split calculations. Ritter conducted a 1- for-10 reverse stock split in March 2018. In the wake of these results and in anticipation of the presentation of two posters on aspects of the Phase 2b data from the previously-concluded trial of RP-628—both clinical impact and background on the patient evaluation tool used in the study—at the Digestive Disease Week (DDW) medical conference in Washington, DC at the beginning of June, we reiterate our Buy rating and 12-month price target of $15.00 per share on RTTR. RP-G28 slated to enter pivotal development near term.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.8% and a 39.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Ritter Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $15.
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Based on Ritter Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.01 million. In comparison, last year the company had a GAAP net loss of $1.67 million.
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Ritter Pharmaceuticals, Inc. engages in the development of novel therapeutic products which modulate the human gut microbiome to treat gastrointestinal diseases. It focuses on the development and commercialization of RP-G28. The company was founded by Andrew J. Ritter and Ira E. Ritter on March 29, 2004 and is headquartered in Los Angeles, CA.
