H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Botanix Pharmaceuticals Limited today and set a price target of A$2.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors that highlight the promising potential of Botanix Pharmaceuticals Limited’s product, Sofdra. The recent U.S. launch of Sofdra, a topical anticholinergic therapy for primary axillary hyperhidrosis (PAH), has shown strong early sales metrics, indicating a robust demand and growth trajectory. The condition affects a significant portion of the U.S. population, presenting a substantial market opportunity that is currently underserved by existing treatment options.
Pantginis notes that Sofdra’s early success is driven by an expanding prescriber base and high patient adherence, with refill rates exceeding industry benchmarks. The product’s unique mechanism of action and prior approval in Japan further bolster its market positioning, suggesting it could effectively fill the treatment gap in PAH. With strategic investments in expanding sales territories and a positive outlook on gross-to-net indicators, Pantginis projects significant sales growth, reinforcing the Buy rating for Botanix Pharmaceuticals Limited.