Maxim Group Reaffirms Their Buy Rating on Amryt Pharma (AMYT)

In a report released yesterday, Naz Rahman from Maxim Group reiterated a Buy rating on Amryt Pharma (AMYTResearch Report), with a price target of $27.00. The company’s shares closed last Tuesday at $11.03.

According to TipRanks.com, Rahman is a 1-star analyst with an average return of 5.6% and a 50.0% success rate. Rahman covers the Healthcare sector, focusing on stocks such as 9 Meters Biopharma, Agile Therapeutics, and ADMA Biologics.

Currently, the analyst consensus on Amryt Pharma is a Strong Buy with an average price target of $29.50, implying a 169.4% upside from current levels. In a report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $29.00 price target.

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Based on Amryt Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $62.76 million and GAAP net loss of $6.8 million. In comparison, last year the company earned revenue of $46.19 million and had a GAAP net loss of $18.17 million.

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Amryt Pharma PLC is a specialty pharmaceutical company. It is focused on developing and delivering new treatments to help improve the lives of patients with rare or orphan diseases. It holds an exclusive license to sell Lojuxta (lomitapide) for adults, across the European Union and other territories including the Middle East, North Africa, Turkey and Israel. Lojuxta is used to treat a rare life-threatening disease called Homozygous Familial Hypercholesterolemia. Myalept (metreleptin) is an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients. It derives most of the revenue from the European Economic Area (EEA).