In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on AzurRx BioPharma Inc (AZRX), with a price target of $8. The company’s shares opened today at $2.06.
Gershell said:
“Our focused survey of 25 physicians who manage patients w/exocrine pancreatic insufficiency provides clear support to the uptake prospects of AZRX’s novel pancreatic enzyme replacement therapy, as the results reflect broad prescriber interest in reducing the pill burden associated with current PERTs, expected to be a key advantage of MS1819. Recall that this candidate is in Phase 2 in cystic fibrosis patients w/EPI, following positive data in the chronic pancreatitis setting. We should see top-line results in CF in mid-2019, and believe MS1819 is poised to become a best-in-class product in the ~$1.2B US PERT market. While further development remains, we increase our estimated peak 2029 US penetration to 25% (from 20%), supporting our new PT of $8 (from $6).”
According to TipRanks.com, Gershell is a 2-star analyst with an average return of 0.3% and a 36.1% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Evofem Biosciences Inc, Urogen Pharma Ltd, and Catalyst Pharma.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for AzurRx BioPharma Inc with a $7 average price target, which is a 239.8% upside from current levels. In a report issued on February 14, Maxim Group also initiated coverage with a Buy rating on the stock with a $5 price target.
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The company has a one-year high of $3.75 and a one-year low of $1. Currently, AzurRx BioPharma Inc has an average volume of 88.58K.
Based on the recent corporate insider activity of 20 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 AZRX in relation to earlier this year.
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AzurRx BioPharma, Inc. is a development stage company, which engages in the research and development of non-systemic biologics for the treatment of patients with gastrointestinal disorders. It offers MS1819 and AZX1101 that are therapeutic proteins products under development. The company was founded on January 30, 2014 and is headquartered in Brooklyn, NY.
