Nabriva Receives a Buy from Needham

Needham analyst Alan Carr reiterated a Buy rating on Nabriva (NASDAQ: NBRV) today and set a price target of $18. The company’s shares opened today at $4.75, close to its 52-week low of $4.39.

Carr noted:

“Nabriva reported 1Q18 financial results today and we spoke w/ mgmt for an update. Mgmt reiterated guidance for top-line results from the second of two Phase 3 trials of lead antibiotic lefamulin in Community Pneumonia (CABP) in 2Q18. We continue to expect a positive outcome and reiterate BUY rating. We believe the opportunity for lefamulin in Community Pneumonia is misunderstood and underappreciated by investors. We acknowledge challenges for antibiotics within the hospital, but believe oral lefamulin can be relevant in the large outpatient community setting.”

According to TipRanks.com, Carr is a 4-star analyst with an average return of 4.8% and a 40.9% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Currently, the analyst consensus on Nabriva is Strong Buy and the average price target is $14.67, representing a 208.8% upside.

In a report released today, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $16 price target.

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The company has a one-year high of $14.10 and a one-year low of $4.39. Currently, Nabriva has an average volume of 280.9K.

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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 lead product candidate, lefamulin, is a pleuromutilin antibiotic available for systemic administration in humans.