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Posted On: 03/18/2019 4:07:10 PM
Post# of 30067
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Kitov Pharmceuticals (KTOV), with a price target of $12. The company’s shares closed on Friday at $1.25.
Selvaraju observed:
“Our assessment is based on a risk-adjusted net present value (rNPV) approach, which ascribes a $225M valuation to KIT-302 (U.S. trade name Consensi), using a 15% discount rate and 23% effective tax rate. This has risen from the prior $160M valuation based on the improved metrics of the deal with Coeptis vs. our original assumptions, which solely involved Kitov’s receipt of low double-digit royalties on net sales of Consensi from a partner.
Selvaraju observed:
“Our assessment is based on a risk-adjusted net present value (rNPV) approach, which ascribes a $225M valuation to KIT-302 (U.S. trade name Consensi), using a 15% discount rate and 23% effective tax rate. This has risen from the prior $160M valuation based on the improved metrics of the deal with Coeptis vs. our original assumptions, which solely involved Kitov’s receipt of low double-digit royalties on net sales of Consensi from a partner.
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