anaylst target price 27 cents

From FN Arena 24/4/14


Citi rates QRX as Buy, High Risk (1) - The US FDA advisory committee has voted against approving MoxDuo-IR. The reasons given were that the safety advantage is not sufficiently established. Citi observes the phase 3 clinical trial needs to be repeated and this will require a further two years and $50-75m.
Citi thinks the fund raising will be difficult. The broker retains a Buy rating but warns there is significant risk with this company and it remains highly speculative. The price target is reduced to 27c from $2.58.
Target price is $0.27 Current Price is $0.14 Difference: $0.13 If QRX meets the Citi target it will return approximately 93% (excluding dividends, fees and charges).