Furoscix Growth Prospects Anchor Buy Rating for scPharmaceuticals

scPharmaceuticals (SCPH – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 14. Analyst Roanna Ruiz from Leerink Partners maintained a Buy rating on the stock and has a $22.00 price target.

Roanna Ruiz has given his Buy rating due to a combination of factors, including the observed and potential growth in scPharmaceuticals’ Furoscix product. Despite facing challenges such as a cyberattack and first-quarter seasonal issues related to payer deductible resets, Furoscix showed signs of increasing prescriber demand. Ruiz sees potential for a significant uptick in the product’s market penetration by the end of the year, as the company intensifies efforts to expand awareness, improve payer coverage, and capitalize on opportunities within integrated delivery networks, which may lead to large-scale purchases in the second half of 2024.

Furthermore, Ruiz remains optimistic about the company’s management strategies, including anticipated growth in gross-to-net percentages and proactive plans for expanding the sales force pending FDA approval for Furoscix in a new indication. The financial position of scPharmaceuticals, bolstered by its cash reserves and access to additional funding, supports the company’s ongoing activities and commercial strategies. These factors collectively reinforce Ruiz’s confidence in the stock, justifying the Buy rating and maintaining a price target of $22.

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scPharmaceuticals (SCPH) Company Description:

scPharmaceuticals, Inc.engages in the development of transformative pharmaceutical products for subcutaneous delivery. Its products include furosemide, used as parenteral diuretic in treating heart failure and ceftriaxone, used as parenteral antibiotic outside the hospital setting. The company was founded by Pieter Muntendam and Bertram Pitt in February 2013 and is headquartered in Burlington, MA.