Wells Fargo Adds ViroPharma (VPHM) to Its Priority List

March 1, 2013 10:17 AM EST
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Price: $49.96 --0%

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Wells Fargo today added ViroPharma Inc. (Nasdaq: VPHM) to its priority stock list, calling the stock its highest conviction mid-cap biotech idea.

Analysts said they have continued conviction that there is a significant discount between the stock's current valuation and the company's strong fundamentals.

"We believe that the revenues from the Cinryze franchise will continue to grow consistently based on the solid HAE demand metrics. Additionally, with no other companies yet pursuing an IV C1esterase for prophylaxis, the efficacy of subQ C1esterase inhibitors unproven and their potential convenience advantages over Cinryze likely modest, VPHM having the most promising subQ C1esterase anyway, and the general reticence of patients on effective orphan therapies to change, we believe concerns over post2015 Cinryze market share erosion are substantially overstated," wrote an analyst at the bank.

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