Zacks Investment Research upgraded shares of Sucampo Pharmaceuticals (SCMP) from NEUTRAL to OUTPERFORM on December 05, 2014, with a target price of $16.00.
Sucampo reported earnings per share of $0.14 in the third quarter of 2014 easily beating the Zacks Consensus Estimate of $0.04 and above the year-ago figure of $0.09. Revenues came in at $31.5 million, up 49% from the year-ago quarter but above the Zacks Consensus Estimate of $27 million. Amitiza is Sucampo's flagship product which is approved in the U.S. for the treatment of chronic idiopathic constipation, opioid-induced constipation and irritable bowel syndrome. The company is working on the label expansion of the drug. We are impressed by recent patent litigation settlements and amendment of agreement with partner Takeda, which should boost growth prospects. Hence, we initiate coverage on Sucampo with an Outperform recommendation.
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