Ladenburg Thalmann upgraded Repros Therapeutics (NASDAQ:RPRX) to “buy” from “neutral,” with a new price target of $5.50. The stock closed at $1.93 on Wednesday.
In a new report, analyst Matthew Kaplan writes that Repros has announced positive Phase 2b data for both its oral and vaginal delivery trials, following two, 18-week cycles of treatment with Proellex for the treatment of uterine fibroids.
“We are impressed by the initial top-line results showing oral Proellex was safe and effective in inducing amenorrhea in the majority of patients following two, 18-week treatment cycles,” he added.
Mr. Kaplan expects Repros to have a post-Phase 2 meeting with the FDA during late 2016 or early 2017 to define the Phase 3 programs which will be required for NDAs of oral Proellex for two indications: endometriosis and uterine fibroids.