Brean Murray Carret initiates its coverage on Ventrus Biosciences VTUS with a Buy rating and a price target of $30.
Brean Murray Carret comments, "We are initiating coverage of Ventrus Biosciences Inc. with a Buy rating, as we believe that VEN 309 has blockbuster potential, given its proven efficacy, large target market and the lack of competitive prescription hemorrhoid drugs. Our Buy rating and 12‐month target price of $30 are based on a DCF analysis using a 40% discount rate and a 6x multiple of the terminal value for the projected 2022 EBITDA of $936 million. Ventrus is focused on developing drugs for gastrointestinal indications. The company's lead drug candidate, VEN 309, has completed several Phase 2 trials in patients with hemorrhoids, and within weeks, Phase 3 data will be released that we believe will support approval."
VTUS closed at $10.04 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in