Aegerion Pharmaceuticals (AEGR) Run Up Not Over; PT Doubled at Needham & Company

July 22, 2013 7:30 AM EDT
Get Alerts AEGR Hot Sheet
Price: $1.97 --0%

Rating Summary:
    11 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 6
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Needham & Company analyst Chad Messer doubled his price target on Buy-rated Aegerion Pharmaceuticals (NASDAQ: AEGR) from $50 to $100, saying the earnings potential from Juxtapid more than justifies the stock move.

Messer comments, "AEGR shares have returned >200% since Juxtapid received approval last December. While many investors may feel like they have missed out on the run-up, we put Aegerion's current $2.3 billion market capitalization into context with how we see Juxtapid's earnings potential. Assuming just 17% of our estimated 14,000 eligible patients are on treatment by 2018, we forecast worldwide Juxtapid sales of $590MM, equating to AEGR EPS of $7.28. Applying a 30X multiple, which we believe is conservative vs peer companies, and a 25% discount rate implies a 12-month price target of $100."

For an analyst ratings summary and ratings history on Aegerion Pharmaceuticals click here. For more ratings news on Aegerion Pharmaceuticals click here.

Shares of Aegerion Pharmaceuticals closed at $78.59 yesterday.

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