Hyperion Therapeutics (HPTX) PT Lifted to $35 at Needham & Company

August 15, 2013 11:04 AM EDT Send to a Friend
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Price: $23.88 -0.08%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Needham & Company analyst Alan Carr reiterated a Buy rating and raised his price target on Hyperion Therapeutics (NASDAQ: HPTX) from $25 to $35, noting the Ravicti launch is progressing well.

Carr comments, "Hyperion reported $6.2M in 2Q13 Ravicti sales, above our expectations for $3.5M. The company launched Ravicti for Urea Cycle Disorders in Feb 2013. We expect a gradual transition of UCD patients from Buphenyl to Ravicti, with growth leveling off in 2016-2017. Hyperion reported $1.17 EPS, driven by the Buphenyl transaction with Valeant, which closed in late May 2013. We believe the stock is undervalued relative to other commercial stage companies in the rare disease space (2014 EV/sales 4.8 vs. 9.9; 2015 3.8 vs. 6.8) and we reiterate our BUY rating. We are raising our price target to $35 (was $25), which is 17X our 2016 $2.54 EPS estimate, discounted 10% annually."

For an analyst ratings summary and ratings history on Hyperion Therapeutics click here. For more ratings news on Hyperion Therapeutics click here.

Shares of Hyperion Therapeutics closed at $24.89 yesterday.


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