Here’s Why Bellerophon Therapeutics Inc (BLPH) Stock Rose 16% Today


Bellerophon Therapeutics Inc (NASDAQ:BLPH) investors got some support today from H.C. Wainwright analyst Andrew Fein, which initiated a Buy rating on the stock, with a $5.00 price target, which implies an upside of over 685% from last closing price.

Bellerophon shares reacted to the new rating, jumping nearly 16% in Friday’s trading session.

Fein wrote, “We believe Bellerophon’s portable, userfriendly device, INOpulse, offers a competitive value proposition as adjuvant therapy for PAH patients already on long-term oxygen support. We take a reductionist approach here and argue that despite the business development potential of INOpulse in the larger indications (i.e., PH-COPD and PH-IPF), a price target of $5/share can be fully supported by INOpulse in PAH alone. We conservatively model for a worldwide peak revenue of $238M (we discount this by 66% to get $157M for our valuation) for INOpulse in PAH by the year 2023. Ahead of the readouts from the two Phase 2 studies of INOpulse in PH-COPD and PH-IPF on tap for 1H17 that may offer additional upside, as well as the interim readout from the Phase 3 INO-1 of INOpulse in PAH on tap for YE17, we are initiating coverage with a Buy rating.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Fein has a yearly average return of -0.9% and a 38% success rate. Fein is ranked #3422 out of 4365 analysts.

Subsequently, in a report issued on December 30, Cowen analyst Ritu Baral assigned a Hold rating on BLPH. On November 15, Leerink Swann’s Jason Gerberry reiterated a Buy rating on the stock and has a price target of $5.00.

Bellerophon Therapeutics, Inc. engages in developing products at the intersection of drugs and devices. Its products are using in the treatment of cardiopulmonary and cardiac diseases. The company engages in two programs including INOpulse and BCM. INOpulse is based on proprietary pulsatile nitric oxide delivery device. BCM is based on placebo-controlled clinical trial designed to support CE mark registration in the European Union.

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