Urovant Sciences Ltd (UROV) Receives a Buy from H.C. Wainwright

By Austin Angelo

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Urovant Sciences Ltd (UROVResearch Report), with a price target of $28. The company’s shares closed last Monday at $7.54.

Selvaraju commented:

“We have valued Urovant based on a discounted cash flow (DCF) analysis, which ascribes a total of $1.2B to vibegron in the OAB and IBS-associated pain indications. Our probability of approval in OAB is 90%, while the probability of approval for IBS-associated pain is 50%. We have applied a 12% discount rate to all future cash flows, along with an effective tax rate of 18%. This translates into a price objective of $28.00, assuming roughly 44.6M shares outstanding as of mid-2020.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.7% and a 27.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and Stealth Biotherapeutics Corp.

Currently, the analyst consensus on Urovant Sciences Ltd is a Strong Buy with an average price target of $25.67.

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The company has a one-year high of $14.49 and a one-year low of $4.06. Currently, Urovant Sciences Ltd has an average volume of 52.05K.

Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of UROV in relation to earlier this year.

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Urovant Sciences Ltd. is a clinical-stage biopharmaceutical company, which through its subsidiaries, engages in the development and commercialization of therapies for urologic conditions. Its pipeline includes Vibegron (RVT-901) and URO-902. The company was founded on January 27, 2016 and is headquartered in London, the United Kingdom.