Needham analyst Alan Carr maintained a Buy rating on Nabriva (NASDAQ: NBRV) today and set a price target of $18. The company’s shares opened today at $2.50, close to its 52-week low of $2.33.
Carr noted:
“Nabriva reported 2Q18 financial results this morning and we spoke w/ company for an update. As a reminder, Nabriva acquired private company Zavante and its sole asset IV fosfomycin (Contepo) for 8.2M shares and up to $97.5M in milestone payments in Jul 2018. Although we have modest expectations for IV fosfomycin, we view the transaction favorably given that no additional sales infrastructure is needed. Nabriva has guided for regulatory submissions for both antibiotics in 4Q18 and we assume launch in mid-2019. We believe the stock is undervalued and reiterate BUY. Lefamulin is an underappreciated asset that we believe will be relevant outside the challenging hospital setting.”
According to TipRanks.com, Carr is a 3-star analyst with an average return of 3.4% and a 41.8% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Rhythm Pharmaceuticals Inc, and Lexicon Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nabriva with a $18 average price target, implying a 620.0% upside from current levels. In a report issued on July 25, H.C. Wainwright also assigned a Buy rating to the stock with a $20 price target.
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Based on Nabriva’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $13.34 million. In comparison, last year the company had a GAAP net loss of $14.6 million.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NBRV in relation to earlier this year.
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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.
