UPDATE: Piper Jaffray Initiates On Repros Therapeutics On Androxal Prospects
In a report published Tuesday, Piper Jaffray analyst Joshua Schimmer initiated an Overweight rating on Repros Therapeutics (NASDAQ: RPRX) and initiated a price target of $26.00.
In the report, Piper Jaffray says "we are initiating coverage of RPRX with an Overweight rating and $26 PT, representing 85% upside from current levels. The company's lead program, Androxal, is an estrogen blocker that demonstrated proof of concept for treatment of male hypogonadism in two placebo-controlled Phase III studies. While the drug demonstrated a clear ability to raise testosterone, the co-primary non-inferiority endpoint of not reducing sperm count was clouded by protocol violations. RPRX will consult with the DFA and run confirmatory studies comparing Androxal to topical testosterone, which should definitively illustrate the drug's lesser proclivity toward infertility. As Androxal moves back on the path toward approval in 2014, we expect shares to reflect this forward progress."
Repros closed on Tuesday at $15.20.
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