VIVUS (VVUS) Gets a Boost from Uber-Bullish Orexigen (OREX) Call

July 16, 2012 11:09 AM EDT
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Price: $1.20 --0%

Rating Summary:
    4 Buy, 8 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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Analysts at Leerink Swann resumed coverage on Orexigen Therapeutics, Inc. (Nasdaq: OREX) today but in the report they also made some positive comments on VIVUS Inc. (Nasdaq: VVUS), which investors are holding onto ahead of tomorrow's important PDUFA date for Qnexa.

Leerink's Marko Kozul said their analysis and MEDACorp feedback leads them to believe that VIVUS's Qnexa will gain approval by its 7/17/12 PDUFA date.

"MEDACorp obesity KOL interviews suggest to us the FDA has become much more dynamic in its appreciation of obesity as a specific disease with an unmet medical need and risk-benefit favoring approval of innovative therapies," the analyst said.

"Overall and longer-term, the KOLs predict greatest use of Qnexa, followed by Contrave, and then Belviq based on their respective differentiated profiles," they also said.

In addition, they said talks with doctors suggest the public appetite for potential higher priced obesity drugs, and that eventually 3rd party payers will provide reimbursement.

While the analyst was using comments on VVUS to make his case for the Outperform rating on OREX, they also bode well for VVUS.

Shares of VVUS are up 3.5 percent to $27.68 and OREX is up 7.4 percent.

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