scPharmaceuticals (SCPH – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on March 19. Analyst Roanna Ruiz from Leerink Partners reiterated a Buy rating on the stock and has a $11.00 price target.
Roanna Ruiz has given her Buy rating due to a combination of factors influencing scPharmaceuticals’ outlook. The company reported solid financial results for the fourth quarter of 2024, with Furoscix achieving approximately $12.2 million in revenue, marking a 21% growth from the previous quarter. This growth is primarily attributed to the increased prescription volume following the FDA’s approval of Furoscix for chronic kidney disease patients with edema. Despite moderating the long-term sales trajectory for Furoscix in heart failure and CKD, Ruiz remains optimistic about the company’s potential.
Several upcoming developments could further bolster Furoscix’s growth, including its formal launch in the CKD market in April 2025 and the Medicare Part D redesign, which is expected to reduce patient costs. Additionally, the potential FDA approval of the SCP-111 auto-injector could significantly lower production costs. With scPharmaceuticals ending 2024 with a strong cash position, Ruiz believes the company is well-positioned to achieve profitability, justifying the Buy rating despite a lowered price target.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $25.00 price target.