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BMO Capital nudged its price target up by one dollar to $61 on Friday. This is a routine adjustment that follows the company's recent drug approval, but the firm kept its Market Perform rating, which means it expects the stock to perform about as well as the broader market rather than beating it. While the average analyst target sits much higher at $91, this specific move is small. It suggests that while the new drug approval is a win, some analysts are still waiting to see how well the company can actually sell its new treatments before becoming more optimistic.
Source: BMO Capital
On Thursday, the FDA approved Zanvastro for both children and adults with Alexander disease, a rare genetic disorder that destroys the white matter in the brain. This is a landmark moment because there were previously no approved treatments that could change the course of this progressive and often fatal disease.
This approval is a major milestone for the company's shift toward selling its own drugs directly. Because this is the only treatment available for this condition, the company should have a clear path to reaching patients. This launch is a key piece of the plan to turn the business profitable by moving from earning small royalties to keeping the full profit from its own discoveries.
Source: Business Wire
The company presented new data in late August showing that its drug Tryngolza continues to work well for patients with severely high triglycerides, which are fats in the blood that can cause heart issues. The one-year results from a long-term study showed the drug consistently reduced these fat levels and lowered the risk of painful organ inflammation. This data helps doctors feel more confident prescribing the drug for long-term use. Since Tryngolza is one of the first medicines the company is selling on its own, proving it works safely over a full year is important for building the steady sales needed to reach profitability.
Source: Business Wire
Management consistently sets conservative targets and beats them by wide margins, showing they have a firm handle on the business even while it loses money during this growth phase.
| Expectation | |
|---|---|
| EPS | $-1.22 |
| Revenue | $182M |
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