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Amryt Pharma (AMYT) Received its Third Buy in a Row
By Ryan Adsit
Amryt Pharma (AMYT) Received its Third Buy in a Row After Leerink Partners and Maxim Group gave Amryt Pharma (NASDAQ: AMYT) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Michelle Gilson maintained a Buy rating on Amryt Pharma yesterday and set a price target of $40.00. The company’s shares closed last Monday at $14.29.
According to TipRanks.com, Gilson is a 4-star analyst with an average return of 25.2% and a 51.4% success rate. Gilson covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Sigilon Therapeutics, and Travere Therapeutics.
Currently, the analyst consensus on Amryt Pharma is a Strong Buy with an average price target of $33.50, a 136.7% upside from current levels. In a report issued on March 31, Maxim Group also initiated coverage with a Buy rating on the stock with a $27.00 price target.
https://www.analystratings.com/articles/amryt-pharma-amyt-received-its-third-buy-in-a-row/
Are you serious?
I thought if we got to £5 we'd be doing really well!
We will start to move north soon. £10 is my target over the years.
We should get a PDUFA date from the FDA in due course - that's on the proviso that they accept the NDA. I believe they have a month to decide whether to accept the submission.
Hyms,
Yep they said in the earning conference call that they expect approval in November (including FDA) and that they are ready to ship product in December as they are manufacturing Filsuvez in-house at their German facility.
Hi all,First post here. Holding on to Amryt because of Filsuvez. 210 active days sounds like a long time. May seem forever if they apply stop-clock. Is it similar timeline for FDA?From RNS this morning... “The EMA review for Oleogel-S10 will be according to standard timelines with an opinion of the Committee for Medicinal Products for Human Use (“CHMP”) expected within 210 ‘active’ days (excluding any ‘clock-stops’ for the applicant to provide answers to questions from the CHMP).”
Has the overhang been cleared?
Some decent sized late reported trades..
FDA Application for Filsuvez should be filed early next week..
Hopefully!
I hope he’s ok.
All sells..
Really thought 2 was the bottom..
Yeah right !
It’s a blood bath in the Nasdaq biotech index at the moment. We’re bound to feel a slight chill as a result. An issue for traders but not investors...all still good here in my view.
The market will eventually rerate Amryt upwards when it decides to add up the value-enhancing RNSes of the past few months - and the other ones yet to come.
Maybe the rise was in anticipation of the recent positive RNS's and as predicted once they are released the share falls.
More good news from Amryt this morning.
The FDA have confirmed that they're willing to accept a single, 80 patient randomised trial for Myalept in patients with partial lipodystrophy over 12 months. Crucially, they've confirmed that they're willing to consider an efficacy supplement based on only 6-months efficacy and safety data - presumably this means that Amryt can file for approval after only 6 months if the data are good enough.
Good to note that there's a clear path forward and that involves a small study over a relatively short period. Approval should double the market for Myalept in the US.
https://www.londonstockexchange.com/news-article/AMYT/amryt-receives-positive-feedback-from-the-fda-on-the-path-forward-for-myalept-r-metreleptin-indication-in-partial-lipodystrophy/14909619
yes - looks good.
Due Diligence and subsequent approval by those 4 countries points to a global approval success for Myalepta in my view.
Another excellent RNS this morning with a reimbursement approval from France for Myalepta which follows on from the announcement of NICE approval back in January. Good to see Amryt quietly following their strategy of expanding the commercial reach of Mylatpta in Europe - agreements now in place with France, UK, Germany and Italy in addition to ROW territories inc. US.
Good stuff.
https://www.londonstockexchange.com/news-article/AMYT/amryt-receives-reimbursement-approval-from-the-french-ministry-of-social-affairs-and-health-for-myalepta-r-metreleptin/14907878
Humm..
I suspect that Joe is itching to spend that 40M he raised a few months ago....could be the reason for the rise if that is imminent. With the MAA submission for Filsuvez and hopefully the approval coming along shortly and the subsequent issuing of the accelerated review voucher absolutely no reason to sell this year at least. These are big milestones and I would expect significant uplifts in the sp off the back of those.....plus it is a profitable small-medium biotech, a rarity!
Joe must be itching to spend that 40M he raised a few months ago....wonder if that is on the horizon hence the rise. With the submission of the market authorisation application for Filsuvez to the US and EU imminent, subsequent approval and then issuing of the accelerated review voucher all in the next 6-9 months....it would be madness to sell before the end of the year in my opinion.
£600 thousand is a big sized gamble for a mid sized company..
Insiders know best..
I remember back in 2016 when the market was crashing Jamie Dimon bought 25 million of JPM stock and the market turned for everyone.
Based on net worth and size of company Stafford bet is alot bigger.
Thanks I read that yesterday, you think that's the reason for the rise? Usually this share rises before good news is released then falls when the good news is actually released so I thought it might be something else.
I suggest you read the last RNS.
We have no idea we are only shareholders but you are so right with your observation.