Nomura/Instinet Defends Retrophin (RTRX), Says Selloff is Overdone

Nomura/Instinet analyst Christopher Marai reiterated a Buy rating and $57.00 price target on Retrophin (NASDAQ: RTRX).

The analyst comments "We see the current selloff in the pre-market as overdone—RTRX has $10/sh in cash and a base business that we estimate will generate $180mn in FY19. Further, the company continues to focus on Sparsentan’s ongoing Ph3 studies set to read out in early 2021; we view the Sparsentan program in FSGS as the fundamental value driver going forward, and we believe this conservatively represents $14/sh of our target price (based on just $600mn in sales in 2026E)."

For an analyst ratings summary and ratings history on Retrophin click here. For more ratings news on Retrophin click here.

Shares of Retrophin closed at $17.40 yesterday.

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