Jefferies Boosts Target on Aegerion (AEGR) to $29 Ahead of Juxtapid Commercialization

December 27, 2012 7:21 AM EST Send to a Friend
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Price: $31.73 -0.6%

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    14 Buy, 1 Hold, 1 Sell

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    Up: 24 | Down: 13 | New: 40
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Jefferies raised its price target on Buy-rated Aegerion Pharmaceuticals (NASDAQ: AEGR) from $24 to $29 after FDA approval for Juxtapid with details on the company's commercial plan expected on Jan 7-10.

The firm notes the labeled indication is in-line with expectation. The key to commercial success of Juxtapid is the number of of eligible patients, they note. Aegerion estimates Juxtapid pricing of ~$200-$300K per patient per year and reiterated its ~3K addressable number of patients in the U.S.

For FY13, the firm's Juxtapid sales estimate is $13M (on FY basis, 40-60 treated pts on AEGR pricing range; vs. cons. $24M). The firm forecast revenue from lomitapide for HoFH starting in 2013 (commercial launches in the U.S./E.U. in 1Q13/2H13 with peak sales potential of ~$240M/~$180M, respectively).

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 $25.73 yesterday.


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