Market Overview

UPDATE: JP Morgan Initiates Kythera Biopharmaceuticals at Overweight on Key Pipeline Asset

Related KYTH
CORRECTION: Kythera Reports FDA Acceptance of ATX-101 NDA, PDUFA Date Set at May 13, 2015
Kythera Reports FDA Acceptance of ATX-101 NDA, PDUFA Date Set at May 13, 2015

JP Morgan initiated coverage on Kythera Biopharmaceuticals (NASDAQ: KYTH) with an Overweight rating and a $30 price target.

JP Morgan noted, "There are currently no approved non-surgical options for the reduction of submental (under-chin) fat and Kythera will target this market with a non-invasive injectable therapy. We see a meaningful opportunity for ATX-101 to initially target the estimated 2 million unique patients in the US who currently receive a toxin and/or dermal filler with a longer term opportunity to address the estimated 10 million individuals who would be physically and financially appropriate for the treatment. Our recent survey of 50 dermatologists and plastic surgeons confirmed a high level of interest in the product in both opportunities and also highlighted a number of off-label opportunities for ATX-101."

Kythera Biopharmaceuticals closed at $22.11 on Friday.

Latest Ratings for KYTH

DateFirmActionFromTo
Nov 2013Empire Asset ManagementInitiates Coverage onSell
Oct 2013Bank of AmericaInitiates Coverage onBuy
Sep 2013Goldman SachsAssumesNeutral

View More Analyst Ratings for KYTH
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (KYTH)

Around the Web, We're Loving...

Get Benzinga's Newsletters