Maxim Group Thinks Bellerophon’s Stock is Going to Recover

By Ryan Adsit

In a report released today, Caroline Palomeque from Maxim Group initiated coverage with a Buy rating on Bellerophon (BLPHResearch Report) and a price target of $3. The company’s shares closed yesterday at $0.67, close to its 52-week low of $0.47.

Palomeque commented:

“We are initiating coverage of $3 price target. Bellerophon’s lead product is the INOpulse delivery system of inhaled nitric oxide (iNO) for the outpatient management of pulmonary hypertension (PH) in chronic pulmonary diseases.”

According to TipRanks.com, Palomeque is ranked 0 out of 5 stars with an average return of -18.3% and a 28.9% success rate. Palomeque covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics Inc, VistaGen Therapeutics, and Anavex Life Sciences.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bellerophon with a $3 average price target.

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Based on Bellerophon’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $11.1 million. In comparison, last year the company had a GAAP net loss of $24.16 million.

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Bellerophon Therapeutics, Inc clinical-stage therapeutics company, which focuses on developing innovative products at the intersection of drugs and devices that address significant unmet medical needs in the treatment of cardiopulmonary diseases.