JMP Securities Weighs In On Q4 Earnings For Raptor Pharmaceutical

JMP Securities reviewed Q4 earnings for Raptor Pharmaceutical Corp. (NASDAQ: RPTP) on Wednesday and maintained a Market Outperform rating and $33 price target.

Analyst Liisa A. Bayko expected revenue of $18.1 million and a loss per share of $0.31 for the company’s fourth quarter. For FY 2015, Bayko estimated $82.1 million in revenue and a loss per share of $1.36.

For 2015, Bayko also increased the Procysbi sales estimate from $70 million to $82 million but thought the consensus estimate of $94 million was “aggressive.”

Catalysts for 2015 may include “data from the Phase 2b study of RP103 in pediatric NASH,” expected in 3Q15 and finding a way to move forward with RP103 in Huntington’s disease which could be discussed on the 4Q14 earnings call.

Bayko noted that “an update on the Leigh program in 2015, if positive, could provide yet another, albeit relatively small, source of long-term revenue growth."

The firm’s $33 price target was DCF based and included $3 per share for Procysbi in cystinosis with 100 percent probability of success (POS), $12 per share share for NASH with 30 percent POS and  $17 per share for Huntington’s with 50 percent POS.

The company's Q4 earnings report is currently expected to be released on March 11.

Raptor Pharmaceutical recently traded at $8.82, down 3.6 percent.