Jefferies boosts PT on Australia's Clinuvel Pharmaceuticals

Clinuvel Pharmaceuticals

18/10/2023 22:09

** Analysts at Jefferies raise price target on Australia's
Clinuvel Pharmaceuticals  CUV.AX  to A$50.3 from A$35.8
    ** Co has begun Phase 3 vitiligo study with its Scenesse
product
    ** Brokerage forecasts Scenesse to enter U.S. market by
fiscal 2027
    ** Afamelanotide, sold under the brand name Scenesse, is a
medication used to prevent phototoxicity and to reduce pain from
light exposure for people with erythropoietic protoporphyria
    ** Jefferies' risk-weighted valuation for Scenesse in
vitiligo moves to A$21.51 per share from A$7.41
    ** Stock has fallen 26.4% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))