Wedbush Morgan Downgrades Inspire Pharmaceuticals (ISPH) To Buy
ISPH Hot Sheet
Rating Summary:2 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Wedbush Morgan downgrades Inspire Pharmaceuticals (Nasdaq: ISPH) from Strong Buy To Buy, but maintaining its $22 fair value valuation.
Wedbush Morgan said Inspire Pharmaceuticals reported Q1 revenues and earnings below their consensus estimates due to light AzaSite sales, higher operating expenses, and a restructuring charge.
Wedbush also mentioned that the Denufosol partnership announcement delayed. Management said their was a delay in the negotiation process for an ex-North American partnership for denufosol treatment of cystic fibrosis and that an announcement is unlikely until later in 2009. Wedbush said that the anticipation of a potential partnership in Q2 led to recent strength in Inspire Pharmaceuticals stock and a delay could temper near-term investor sentiment.
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Inspire Pharmaceuticals, Inc. (Inspire) biopharmaceutical company focused on researching, developing and commercializing prescription pharmaceutical products for ophthalmic and pulmonary diseases.
Wedbush Morgan said Inspire Pharmaceuticals reported Q1 revenues and earnings below their consensus estimates due to light AzaSite sales, higher operating expenses, and a restructuring charge.
Wedbush also mentioned that the Denufosol partnership announcement delayed. Management said their was a delay in the negotiation process for an ex-North American partnership for denufosol treatment of cystic fibrosis and that an announcement is unlikely until later in 2009. Wedbush said that the anticipation of a potential partnership in Q2 led to recent strength in Inspire Pharmaceuticals stock and a delay could temper near-term investor sentiment.
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Inspire Pharmaceuticals, Inc. (Inspire) biopharmaceutical company focused on researching, developing and commercializing prescription pharmaceutical products for ophthalmic and pulmonary diseases.
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