Northland Securities Sticks to Its Buy Rating for Nabriva (NBRV)


In a report released today, Carl Byrnes from Northland Securities maintained a Buy rating on Nabriva (NBRV), with a price target of $12.50. The company’s shares closed yesterday at $2.10.

Byrnes wrote:

“We remain highly confident that Lefamulin will garner FDA approval on/about the August 19th PDUFA action goal date, serving as a major catalyst. the EU The European Medicines Agency (EMA) has validated the Marketing Authorization Applications (MAA) for both IV and oral Lefamulin formulations for the treatment of community-acquired bacterial pneumonia (CABP) in adults. The formal review process in the EU will now begin, with the applications following the centralized marketing authorization procedure. The latter allows regulatory authorization in all 28 member states of the and Iceland. We anticipate a favorable opinion from the EMA in 12-to-15 months. Nabriva intends to seek a commercial partner in the EU, where there are 3-4MM cases of pneumonia per year.”

According to TipRanks.com, Byrnes is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -12.0% and a 29.1% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Aridis Pharmaceuticals Inc, and Adamas Pharmaceuticals.

Currently, the analyst consensus on Nabriva is a Strong Buy with an average price target of $7.70, a 266.7% upside from current levels. In a report issued on June 20, H.C. Wainwright also maintained a Buy rating on the stock with a $7 price target.

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Based on Nabriva’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $20.22 million. In comparison, last year the company had a GAAP net loss of $13.34 million.

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Nabriva Therapeutics Plc is a clinical stage biopharmaceutical company, which engages in the research and development of novel antibiotics to treat serious infections. Its product pipeline includes Lefamulin, CONTEPO, and BC-7013. The company was founded in October 2005 and is headquartered in Dublin, Ireland.

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