Liana Moussatos of Wedbush Securities has reiterated the firm’s Outperform rating on Aimmune. She has lowered her target price down to $66 from $74 after previously having a high of $81 for the stock. Some target price cuts are not well received, but this stock being close to $23 still represents close to 200% in implied upside.
With the PALFORZIA launch ongoing, Liana Moussatos sees the potential for Aimmune to popularize the oral immunotherapy treatment for peanut allergy in the United States. It was on January 31, 2020 that the FDA approved PALFORZIA for the reduction of allergic reactions, which included anaphylaxis, which may occur from accidental peanut exposure.
Where Wedbush sees the big growth is in revenues, effectively ramping up to a blockbuster drug category in the coming years. With expected 2020 product sales expected to be just $18.67 million, the official projections for product sales ahead are as follows:
- $91.3 million in 2021,
- $310.6 million in 2022,
- $899.3 million in 2023,
- $1.83 billion in 2024,
- and ultimately $2.46 billion in 2025.