Oppenheimer Maintains a Buy Rating on KemPharm (KMPH)


Oppenheimer analyst Esther Rajavelu maintained a Buy rating on KemPharm (NASDAQ: KMPH) today and set a price target of $11. The company’s shares opened today at $2.50, close to its 52-week low of $2.00.

Rajavelu observed:

“KMPH announced a commercial partnership with KVK Tech for Apadaz (benzhydrocodone/acetaminophen tablets), approved for the short-term management of acute pain. We believe it may serve as an alternative to immediate- release hydrocodone/APAP combination medications, e.g., among others. We maintain our Outperform rating and $11 price target (partially based on Apadaz commercialization in 2019), and update our model to reflect partnership terms including the $3.4M pre-launch milestone payment and revised Apadaz pricing assumptions. Our 2019 KMPH revenue and adjusted EPS estimates are now $3.7M and -$1.55 (vs $0.6M and -$1.68) respectively.”

According to TipRanks.com, Rajavelu is ranked #4430 out of 4887 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for KemPharm with a $11 average price target.

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Based on KemPharm’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.99 million. In comparison, last year the company had a GAAP net loss of $9.98 million.

Based on the recent corporate insider activity of 14 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 KMPH in relation to earlier this year.

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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.

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