Canaccord Genuity Reiterates Buy on Avanir (AVNR) as Drug Sales Ramp

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Canaccord Genuity maintained a Buy on Avanir Pharmaceuticals (NASDAQ: AVNR) with a price target of $6.00 after the company reported drug sales that beat estimates. Nuedexta gross sales came in a $15.4 million, beating consensus views of $14.8 million.

Commenting on the developments, analysts Ritu Baral said, "Recent sales trends continue to appear steady, and we foresee continued sales ramp in 2013."

Canaccord Genuity's $6 target on Avanir Pharmaceuticals (NASDAQ: AVNR) is based on a sum-of- the-parts analysis.

For an analyst ratings summary and ratings history on Avanir Pharmaceuticals click here. For more ratings news on Avanir Pharmaceuticals click here.

Shares of Avanir Pharmaceuticals closed at $2.66 yesterday, with a 52 week range of $1.77-$4.05.

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