Australia's Neuren Pharmaceuticals hits 1-month high on upbeat sales

Neuren Pharmaceuticals

07/11/2024 05:01

(Updates)
    ** Neuren Pharmaceuticals  NEU.AX  rises as much as 8.9% to
A$14.45, highest since Oct. 7
    ** Co says 9-month net sales of Rett syndrome drug Daybue
exceeds full-year threshold of $250 mln
    ** Sees full-year income to be in the A$216 mln-A$218 mln
($142 mln-$143 mln) range
    ** Jefferies maintains "buy"; retains PT at A$30.35
        ** Raises FY25 earnings estimate by about 5% on higher
revenue expectations
  
    ** Stock down 43.1% YTD as of 0046 GMT

($1 = A$1.5230)

 (Reporting by Kumar Tanishk and Nichiket Sunil in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com))