Jefferies Raises Price Target on Sucampo Pharma (SCMP) Following 3Q Report

Jefferies reiterated a Hold rating on Sucampo Pharmaceuticals (NASDAQ: SCMP), and raised the price target to $16.00 (from $14.00), following the company's 3Q earnings report. SCMP reported 3Q EPS of $0.28, compared to Jefferies' $0.25 estimate. Revenues of $58M, +$7M ahead of estimates. Based on the Q3 performance and expectations of another $10M sales milestone from MYL, SCMP increased its FY16 revenue range by $20-25M and EPS by $0.18-0.23.

Analyst David Steinberg commented, "SCMP reported Q3 EPS of $0.28 (vs $0.25 JEF) on revs of $58M (+$7M vs JEF). The stronger topline was due to higher sales of Amitiza ($17M, +$3M vs JEF) in Japan by partner MYL. Of importance, SCMP has further removed risk to Amitiza by settling patent litigation with challenger RDY. We remain constructive on mgt’s ability to deliver value creating M&A – which remains critical to the LT outlook given the finite life of Amitiza and little in the pipeline."

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

Shares of Sucampo Pharmaceuticals closed at $15.10 yesterday.

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