In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on scPharmaceuticals (SCPH – Research Report), with a price target of $18.00.
Douglas Tsao has given his Buy rating due to a combination of factors that highlight the promising growth trajectory of scPharmaceuticals. The company has demonstrated significant revenue growth, with a notable increase in Furoscix sales, driven by strategic expansion efforts and collaborations with integrated delivery networks. This growth is expected to continue, especially with the anticipated benefits from Medicare’s redesign in 2025, which will reduce out-of-pocket costs for patients, thereby increasing demand.
Additionally, the upcoming label expansion into chronic kidney disease (CKD) is set to significantly broaden the patient base, with scPharmaceuticals planning a formal launch in April 2025. The company has already taken steps to ensure commercial readiness, including increasing its sales force and engaging key opinion leaders. The familiarity of nephrologists with Furoscix, due to its existing use in heart disease patients, is expected to facilitate a swift launch. These strategic initiatives, coupled with the potential cost reductions from the autoinjector, underpin Tsao’s positive outlook and Buy rating.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $25.00 price target.