ObsEva (OBSV) PT Raised to $24 at BMO Capital

BMO Capital raised its price target on ObsEva (NASDAQ: OBSV) to $24.00 (from $20.00) while maintaining an Outperform rating.

Analsyt M. Ian Somaiya commented, "Phase-3 IMPLANT2 in-vitro-fertilization (IVF) trial showed a statistically significant higher pregnancy rate of 35.6% with Nolasiban vs 28.5% with placebo (embryo-transfer D5 rate was 45.9% vs 34.7% with placebo). Given IVF-cycle cost of $8-15K in U.S., with current fertility drugs providing 13-43% live-birth-rate, we think nolasiban’s cost-benefit (~$2K/cycle) could drive strong adoption, supporting upside to our $230mn peak estimate (~20% penetration). We are increasing nolasiban probability-of-success to 75% from 20%, which results in our PT increasing to $24 from $20; despite our assumption for FDA/EMA approval to be contingent on the second Phase-3 trial."

You May Also Be Interested In

• Golar LNG Ltd. (GLNG) PT Raised to $70 at BTIG
• STAAR Surgical (STAA) PT Lowered to $28 at Jefferies
• Square Enix Holdings (9684:JP) (SQNNY) PT Raised to JPY3,100 at Macquarie