Piper Jaffray analyst David Amsellem says he’s not worried about the growth trajectory of Optinose’s Xhance with the stock down 31% following this morning’s earnings report. There is understandably some concern that the company’s focus on more aggressive co-pay assistance may hurt the drug’s average selling price and the growth, Amsellem tells investors in an intraday research note. The analyst, however, views Optinose’s transition away from the Xhance sampling program as positive and he expects the company to continue to execute on payer contracts. He lowered his price target for the shares to $30 from $34 and keeps an Overweight rating on Optinose.
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