Northland Securities reaffirmed their buy rating on shares of Nabriva Therapeutics (NASDAQ:NBRV) in a research report sent to investors on Tuesday. They currently have a $12.50 target price on the biotechnology company’s stock.
“We are reiterating our OP rating. We see a clear path to approval for CONTEPO for the treatment of cUTIs w/ a PDUFA action date of April 30th. Similarly, we see a clear path to approval for both oral and IV formulations of Lefamulin for the treatment of 19th PDUFA action date. These events should serve as major near-term catalysts to its shares. We anticipate commercialization of both products in 2H19. Pre-open, Nabriva reported fiscal 2018 year results, with the 4Q EPS loss of ($0.38), comparing to our estimate of ($0.35). The differential reflected higher RD expense which likely included non-cash items. The Company ended the December 31st period with cash and equivalents of $102.2MM, which should prove sufficient to fund operations into 2Q2020.”,” Northland Securities’ analyst wrote.
Several other research firms also recently weighed in on NBRV. BidaskClub upgraded Nabriva Therapeutics from a sell rating to a hold rating in a research note on Wednesday, March 6th. Zacks Investment Research downgraded Nabriva Therapeutics from a buy rating to a hold rating in a research note on Wednesday, February 6th. Finally, SunTrust Banks dropped their price target on Nabriva Therapeutics to $11.00 and set a buy rating on the stock in a research note on Wednesday, November 14th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Nabriva Therapeutics currently has a consensus rating of Buy and an average target price of $10.22.
In other news, Director Charles A. Rowland, Jr. purchased 53,000 shares of the company’s stock in a transaction on Monday, December 24th. The shares were acquired at an average price of $1.31 per share, for a total transaction of $69,430.00. Following the purchase, the director now owns 53,000 shares in the company, valued at $69,430. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.15% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Nabriva Therapeutics by 514.2% in the fourth quarter. FMR LLC now owns 1,842,700 shares of the biotechnology company’s stock worth $2,690,000 after buying an additional 1,542,700 shares during the last quarter. HRT Financial LLC purchased a new stake in shares of Nabriva Therapeutics in the fourth quarter worth about $31,000. Jane Street Group LLC purchased a new stake in shares of Nabriva Therapeutics in the fourth quarter worth about $29,000. Paloma Partners Management Co purchased a new stake in shares of Nabriva Therapeutics in the fourth quarter worth about $54,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of Nabriva Therapeutics in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 4.81% of the company’s stock.
About Nabriva Therapeutics
Nabriva Therapeutics plc, a clinical stage biopharmaceutical company, engages in the research and development of anti-infective agents to treat infections in humans. The company focuses on the pleuromutilin class of antibiotics. Its lead product candidate is lefamulin, which is in Phase III clinical trials in intravenous and oral formulations for the treatment of community-acquired bacterial pneumonia; and has completed Phase II clinical trials for the treatment of acute bacterial skin and skin structure infection.
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