Roth Capital Partners doubled its price target for Juniper Pharmaceuticals (NASDAQ:JNP) to $24 from $12 after the company reported 2017 results. The stock closed at $10 on March 9.
Juniper is focused on developing therapeutics that address unmet medical needs in women’s health using its drug delivery technologies. It also receives sales revenue from CRINONE, a progesterone gel, and from JPS, a contract research organization.
Analyst Yasmeen Rahimi writes that Juniper has retained Rothschild & Co. to maximize shareholder value. “We know that Rothschild has a successful track record in advisory services, having been the firm with the second most number of deals in the 12 months to September 30, 2017,” she added. “While this advisory relationship recently began, we believe there is significant upside to be expected.”
Ms. Rahimi said CRINONE and JPS experienced double-digit growth in 2017 and the company plans to make further investments to continue this growth pattern in 2018.
In January, Juniper reported positive PK animal data for its three novel intra-vaginal ring (IVR) candidates. “We viewed this data as successful validation for the three products, but also saw significant upside to out-license the IVR platform for partners who are looking for advanced delivery methods,” she added.