Zacks Investment Research upgraded shares of Epirus Biopharmaceuticals, Inc. (EPRS) from N/A to OUTPERFORM on December 18, 2014, with a target price of $8.00.
We are initiating coverage of Epirus Biopharmaceuticals, Inc. (NASDAQ: EPRS) with an Outperform rating and an $8.00 price target. Epirus is a global biopharmaceutical company developing and commercializing biosimilar monoclonal antibodies. A number of top selling biologic drugs are set to come off patent in the next few years. These drugs had total sales of more than $60 billion in 2013. Epirus' strategy for commercial success is predicated on selling directly into certain European markets and forming strategic partnerships in the remaining European markets, the U.S., and other global markets. The company has launched its lead compound in India, and plans to initiate a Phase 3 trial as part of the European and U.S. approval process in 2015. The company expects to submit regulatory filings for marketing approval in the Europe and the U.S. in 2017.
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