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UPDATE: Bank of America Raises PT on Repros Therapeutics on Higher Androxal Conviction


In a report published Wednesday, Bank of America analyst Steve Byrne reiterated a Buy rating on Repros Therapeutics (NASDAQ: RPRX), and raised the price target from $25.00 to $35.00.

In the report, Bank of America noted, “Following positive top line phase 3 data (study ‘302) for RPRX's Androxal, we raised our estimated probability of approval to 90% (from 75%), lowered our assumed discount rate to 10% (from 11%) and now model faster uptake. The efficacy results from the ‘302 and previously released ‘301 trial along with six month safety data from the ‘300 trial in our view strengthens the case to approve Androxal for low testosterone (low T) treatment. RPRX remains on-track to file for US approval in mid-2014. We now model risk-adjusted sales of $450mn in 2020 ($379mn prev.). Our peak 10% market penetration forecast for Androxal is unchanged and we note this assumption could be conservative (see page 2 for sensitivity analysis on market penetration rates). Our changes resulted in an increase of $10 to our DCF-derived PO. Our new PO is $35.”

Repros Therapeutics closed on Tuesday at $23.85.

Latest Ratings for RPRX

Nov 2020UBSUpgradesNeutralBuy
Jul 2020JP MorganInitiates Coverage OnNeutral
Jul 2020B of A SecuritiesInitiates Coverage OnBuy

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