In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Botanix Pharmaceuticals Limited, with a price target of A$2.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including the strong market potential and early success of Botanix Pharmaceuticals Limited’s Sofdra launch. The recent quarterly update highlighted a significant increase in net revenue and a substantial growth in the number of unique prescribers and new patient arrivals, indicating a strong demand for Sofdra. The product, approved by the FDA for treating primary axillary hyperhidrosis, addresses a sizable market with millions of potential patients and a growing market value projected to reach $2.8 billion by 2030.
Furthermore, the company has reported impressive gross sales growth and high patient adherence rates, which exceed industry benchmarks. Botanix’s strategic investments to expand its sales force and target new U.S. territories are expected to further accelerate Sofdra’s growth. With a robust cash reserve, the company is well-positioned to achieve profitability, and the projected peak sales of $825 million underscore the significant opportunity for Sofdra. These factors collectively support Pantginis’s positive outlook and Buy rating for the stock.
Pantginis covers the Healthcare sector, focusing on stocks such as Krystal Biotech, Cytokinetics, and aTyr Pharma. According to TipRanks, Pantginis has an average return of -13.4% and a 34.27% success rate on recommended stocks.