Pelthos Therapeutics initiated with an Overweight at Piper Sandler

Piper Sandler analyst David Amsellem initiated coverage of Pelthos Therapeutics (PTHS) with an Overweight rating and $48 price target The company’s lead asset Zelsuvmi is a recently-launched novel nitric oxide-releasing topical therapy for molluscum contagiosum, the analyst tells investors in a research note. Piper sees Zelsuvmi as a “highly attractive opportunity in what is an underserved space.” It believes peak U.S. Zelsuvmi sales could be well north of $200M.