In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Nabriva (NBRV), with a price target of $7. The company’s shares closed yesterday at $2.30.
Arce observed:
“We await details on the structure of a potential EU partnership to add the EU to our model. As such, any future revenues from the EU represent upside to our current estimates. Expecting lefamulin’s U.S. approval on August 19, 2019 PDUFA date. As a reminder, Nabriva reported on February 18 that the FDA has accepted the NDAs for lefamulin in both IV and oral formulations for the treatment of CABP based on a 6-month Priority Review target, with an August 19, 2019 PDUFA date. Since there are no current plans for an AdCom meeting for lefamulin’s NDAs as indicated in the FDA’s acceptance letter, we anticipate its approval for the U.S. market around its assigned PDUFA date. Furthermore, lefamulin is eligible for an additional five years of regulatory exclusivity as a Product (QIDP) product if it is approved.”
According to TipRanks.com, Arce is a 5-star analyst with an average return of 11.6% and a 41.6% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nabriva with a $7.70 average price target, representing a 234.8% upside. In a report issued on May 1, Northland Securities also assigned a Buy rating to the stock with a $12.50 price target.
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Based on Nabriva’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $30.83 million. In comparison, last year the company had a GAAP net loss of $13.34 million.
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Nabriva Therapeutics Plc is a clinical stage biopharmaceutical company, which engages in the research and development of novel antibiotics to treat serious infections. Its product pipeline includes Lefamulin, CONTEPO, and BC-7013. The company was founded in October 2005 and is headquartered in Dublin, Ireland.
