Needham Thinks Nabriva’s Stock is Going to Recover


Needham analyst Alan Carr maintained a Buy rating on Nabriva (NBRV) today and set a price target of $15. The company’s shares opened today at $1.86, close to its 52-week low of $1.12.

Carr noted:

“Nabriva hosted an Analyst and Investor event in NYC yesterday. Lefamulin and Contepo (IV fosfomycin) are under FDA review and we expect approval of both drugs later this yr. Mgmt plans to initially position lefamulin in the Emergency Department as a safe and reliable oral alternative to admission and treatment w/ IV antibiotics. Currently available oral antibiotics for CABP have either efficacy (macrolides) or safety (fluoroquinolone) liabilities. Although we expect Contepo to be approved for cUTI based on Phase 3 ZEUS trial, the drug is more likely to be used for a range of challenging Gram-negative infections. The drug has been available in Europe for yrs, where it is used in combination w/ other antibiotics to address difficult pathogens, including CRE.”

According to TipRanks.com, Carr is a 3-star analyst with an average return of 1.8% and a 41.7% success rate. Carr covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Lexicon Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nabriva with a $15 average price target.

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The company has a one-year high of $6.93 and a one-year low of $1.12. Currently, Nabriva has an average volume of 492.8K.

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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.

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