Nomura analyst Christopher Marai maintained a Buy rating on Retrophin (RTRX) on August 6 and set a price target of $57. The company’s shares opened today at $16.78, close to its 52-week low of $15.55.
Marai wrote:
“in PKU Declined; Frees up ~$65mn. RTRX has declined the option for CNSA-001 after strategic review—this has freed up $65mn in capital (and potential dilution), which may be used for acquisition of new drugs/targets. Recall, RTRX paid $10mn for an option to acquire CNSA-001 program for $65mn in 20% cash/80% stock (at $21.40/sh), plus $25mn in milestone payments, on Jan 4, 2018. New BD a EU PKAN Launch. Stock: FSGS DUPLEX 1H21E (was 2H20E); IgAN 1H22E due to slower- than-expected trial enrollment, steps to speed study completion in progress. Fosmet P3 in PKAN Top Line 3Q19 – Approval Likely Even if Primary Endpoint Misses Stat. Sig. Pending P3 data, RTRX intends to submit both NDA and MAA in 2020. Sensitized primary ep (PKAN-ADL) vs. prior studies (UPDRS) highlights FDA flexibility and breadth of potential to detect clinical benefit. Mgmt.”
According to TipRanks.com, Marai is a 4-star analyst with an average return of 7.5% and a 50.1% success rate. Marai covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Voyager Therapeutics Inc, and Protagonist Therapeutics.
Retrophin has an analyst consensus of Strong Buy, with a price target consensus of $47.50, a 183.1% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $38 price target.
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The company has a one-year high of $33 and a one-year low of $15.55. Currently, Retrophin has an average volume of 440.2K.
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Retrophin, Inc. is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. Its products include Chenodal, Cholbam, and Thiola. The company was founded by Martin Shkreli on February 8, 2008 and is headquartered in San Diego, CA.
