H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on KemPharm (KMPH) today and set a price target of $3. The company’s shares closed last Monday at $0.83, close to its 52-week low of $0.71.
Livnat said:
“Our $3 12-month target is based on a 65% probability of success adjusted DCF including profit split from Apadaz—approved and partnered prodrug of IR hydrocodone, pilot launching in 2H19—and royalties and milestones from KP415 from partner GPC. We project peak $23M KP415 revenue to KMPH at 100% gross margins. Both have IP into the 2030s. We see most near-term revenue solely from milestones, before product royalties and profit share accelerate in 2022-2023, with KemPharm sustainable profitability in 2023.”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 6.3% and a 45.8% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Collegium Pharmaceutical.
KemPharm has an analyst consensus of Moderate Buy, with a price target consensus of $2.03.
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The company has a one-year high of $5.47 and a one-year low of $0.71. Currently, KemPharm has an average volume of 183.2K.
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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.
