Nov. 15 at 5:51 PM
$PTHS Oppenheimer raised the firm's price target on Pelthos Therapeutics to
$57 from
$50 and keeps an Outperform rating on the shares following the first financial results as a public company. All attention is on ZELSUVMI with its net revenues of
$7.1M, just beating our
$6.8M estimate, in the first quarter of its launch, the firm notes. However, Oppenheimer's initial model assumed launch numbers would be supported by significant wholesaler stocking. With stocking a modest factor, the firm increases its Q4 net revenue projection dramatically to
$16.2M from
$4.5M, supported by October scripts growing over 40% vs. September. The firm does expect the growth rate to taper some entering the holidays.
Read more at:
https://thefly.com/n.php?id=4240025
