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Fly News Breaks for December 26, 2018
STML
Dec 26, 2018 | 06:11 EDT
Piper Jaffray analyst Joseph Catanzaro raised his price target on Stemline to $30 and kept his Overweight rating following the FDA approval of Elzonris for the treatment of BPDCN. The analyst states that now that pricing has been disclosed at $24.4K in "wholesale acquisition cost", his base assumption that the drug will become a standard of care with an estimated launch in early 2019 suggests that the stock is "significantly undervalued". Catanzaro adds that his target assumes an "extremely conservative estimate of 500 BPDCN patients per year".
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