KemPharm Gets a Buy Rating from Canaccord Genuity
Canaccord Genuity analyst Dewey Steadman maintained a Buy rating on KemPharm (NASDAQ: KMPH) today and set a price target of $11. The company’s shares opened today at $5.30.
“We are encouraged by KemPharm’s progress with the ADHD program, and believe it represents a significant value-creating opportunity in the coming quarters. We maintain our BUY rating and $11 PT on KMPH shares. Positive IV Human Abuse Potential data bode well for upcoming ADHD reads. KemPharm announced positive results for their KP415 human abuse study, showing drug liking scores similar to placebo when administered up to the highest safest dose. There was no significant difference in mean and placebo. However, there was a numerically significant difference in mean and d-methylphenidate at equimolar doses. Drug liking is a proxy for the potential for drug abuse.”
According to TipRanks.com, Steadman has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.4% and a 37.1% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Pacira Pharmaceuticals, and Cardiome Pharma Corp.
KemPharm has an analyst consensus of Strong Buy, with a price target consensus of $11.38.
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The company has a one-year high of $8.40 and a one-year low of $2.45. Currently, KemPharm has an average volume of 169.6K.
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KemPharm, Inc. is a clinical-stage specialty pharmaceutical company, which engages in the discovery and development of proprietary prodrugs. It focuses in the treatment of serious medical conditions such as attention deficit hyperactivity disorder, pain, and other central nervous system disorders through its platform technology known as Ligand Activated Therapy. The company was founded by Christal M. M. Mickle and Travis C. Mickle on October 30, 2006 and is headquartered in Coralville, IA.