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Fly News Breaks for January 16, 2019
LLY, SUPN
Jan 16, 2019 | 06:18 EDT
Piper Jaffray analyst David Amsellem says his firm conducted a "brief" survey of 27 psychiatrists with the goal of gauging perceptions of the potential role of Supernus Pharmaceuticals' (SUPN) SPN-812 in pediatric and adolescent attention-deficit/hyperactivity disorder. While some of the feedback was suggestive of a meaningful role for SPN-812 in the broader ADHD treatment armamentarium, and as a potential alternative to Eli Lilly's (LLY) Strattera and even stimulants in some cases, "this was far from a consensus view," Amsellem tells investors in a research note. There was equally as much feedback suggesting a more limited role for SPN-812, adds the analyst. Taken together, Amsellem remains concerned about the extent to which the payer landscape for SPN-812 will be restrictive. He views the survey results as mixed for Supernus and says the stock is not attractive at these levels. The analyst reiterates a Neutral rating on the name with a $44 price target.
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