Jefferies hikes PT on Clinuvel Pharma, says business in good shape

Clinuvel Pharmaceuticals

30/08/2022 21:33

** Jefferies hikes price target on Australian
biopharmaceutical co Clinuvel Pharmaceuticals  CUV.AX  to
A$36.90 from A$31.40; maintains "buy" rating   
    ** Brokerage sees market for under-penetrated erythropoietic
protoporphyria (EPP) with no competitors as an opportunity for
CUV; EPP is a rare inherited metabolic disorder 
    ** Says CUV is currently treating only ~4% of the EPP
patients in larger countries of Europe, Americas and Asia, a
situation which should be progressively corrected through
ongoing local approvals   
    ** Adds that CUV's major potential stumbling block is
further positive late-stage clinical trail results and then
regulator approval for vitiligo, which if successful, would mean
that CUV would gain larger market share in a disease whose
current treatment options are "suboptimal"
    ** Brokerage also sees increased competition over the medium
term
    ** Two of three analysts rate the stock "buy" or higher, one
"hold"; their median PT is A$24.40 – Refinitiv data
    ** Stock down 36.2% YTD
 

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))