Oppenheimer Sticks to Their Buy Rating for AzurRx BioPharma Inc (AZRX)


Oppenheimer analyst Leland Gershell maintained a Buy rating on AzurRx BioPharma Inc (AZRX) today and set a price target of $6. The company’s shares opened today at $2.20, close to its 52-week low of $2.10.

Gershell observed:

“Reported 3Q net loss of $2.6M vs. our $3.0ME. Lead candidate MS1819- SD, a recombinant yeast-derived lipase in development for exocrine pancreatic insufficiency, is heading into an open-label Phase 2b trial in EPI due to CF. We expect to see data reveals starting in 1Q19. This trial’s protocol has received the imprimatur of the CF and CFF involvement should facilitate trial execution. Although clinical risk remains, we believe ‘1819’s advantages over current pancreatic enzyme products will enable it to become the EPI treatment of choice (~$1.2B US market). We expect AZRX to Outperform as MS1819- SD advances in its development.”

According to TipRanks.com, Gershell is a 1-star analyst with an average return of -5.5% and a 34.8% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and Urogen Pharma Ltd.

Currently, the analyst consensus on AzurRx BioPharma Inc is a Moderate Buy with an average price target of $7.

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Based on AzurRx BioPharma Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.57 million. In comparison, last year the company had a GAAP net loss of $3.13 million.

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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.

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