Northland Securities analyst Carl Byrnes maintained a Buy rating on Nabriva (NBRV) today and set a price target of $12.50. The company’s shares closed yesterday at $2.10.
Byrnes wrote:
“We remain confident that the CMO matters cited in the CRL will be remedied. Further, we anticipate a Class 1 NDA resubmission (2-month review) supporting approval in the 1H2020 timeframe. Key Points CONTEPO Pre-open, Nabriva announced that the Company submitted a Type A the FDA to discuss the Complete Response Letter (CRL) dated April 30th relating to the for CONTEPO (fosfomycin, injection) for the treatment of complicated urinary tract infections (cUTIs). The Type A meeting is anticipated to be held within 30 days of the FDA’s receipt of the request, with the FDA providing final minutes from that meeting 30 days later. Hence, we anticipate Nabriva to provide an update on the timing of the resubmission of the NDA for CONTEPO in the late-August timeframe.”
According to TipRanks.com, Byrnes ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.4% and a 29.6% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Aridis Pharmaceuticals Inc, and Adamas Pharmaceuticals.
Nabriva has an analyst consensus of Strong Buy, with a price target consensus of $7.70.
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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.
