Canaccord Genuity Reiterates a 'Buy' on Avanir Pharmaceuticals (AVNR); Nuedexta Paragraph 4: We Are confident in IP Position to 2026

July 1, 2011 8:22 AM EDT
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Price: $16.96 --0%

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Canaccord Genuity reiterates a 'Buy' on Avanir Pharmaceuticals (NASDAQ: AVNR), PT $6.

Canaccord analyst, Ritu Baral, says, "We remain confident of Nuedexta IP to 2026. ‘282 is a composition of matter patent on the dextromethorphan /quinidine combination dose used in Phase 3 and commercial Nuedexta. We think the surprising findings claims (based on higher than anticipated efficacy in PBA for lower disease) in the patent further strengthen Nuedexta’s IP position...As a result, we see weakness on the knees on yesterday’s paragraph 4 as overdone. We do not think the filing represents real risk and remain focused on the velocity of the Nuedexta launch."

For more ratings news on Avanir Pharmaceuticals click here and for the rating history of Avanir Pharmaceuticals click here.

Shares of Avanir Pharmaceuticals closed at $3.36 yesterday.

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