HLS Therapeutics Inc. (HLS), a pharmaceutical company focused on the central nervous system and cardiovascular markets, announced Monday that it has entered into a promotional services contract with Pfizer (PFE) to promote Vascepa in Canada.
The agreement is effective August 13, 2021. Vascepa is a treatment designed to reduce the risk of major adverse cardiac events in patients treated with statins.
HLS CEO Gilbert Godin said, “We believe Vascepa has the potential to improve the lives of the many Canadians suffering from, or at risk of, cardiovascular disease and we look forward to collaborating with Pfizer to bring this innovative therapy to those in need. …
“Ultimately, we believe this collaboration will benefit patients and physicians while at the same time strengthening the economic potential for the product and expanding the benefit to society.”
Pfizer will deploy a team across Canada to promote Vascepa to primary-care physician groups. HLS will continue to focus primarily on specialists. (See HLS Therapeutics Inc stock charts on TipRanks)
On August 6, Canaccord Genuity analyst Tania Gonsalves reiterated a Buy rating on HLS while lowering its price target of C$30.75 (from C$31.25). This implies 86.6% upside potential.
Overall, HLS scores a Strong Buy consensus rating among analysts based on four Buys. The average HLS Therapeutics price target of C$34.36 implies 108.5% upside potential to current levels. Shares have plunged approximately 3% year-to-date.
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