UBS Lowers Estimates on Cadence Pharma (CADX); Ofirmev’s Sales Remain Disappointing
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Price: $6.89 -0.58%
Rating Summary:
6 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
6 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade CADX Now!
UBS maintains a 'Neutral' on Cadence Pharma (NASDAQ: CADX) price target of $3.00 (from $4.00).
Analyst, Ami Fadia, said, "Our takeaway: Ofirmev’s sales remain disappointing; 2Q guidance at risk...IMS reported extended unit sales for the month of April were 30.0M (implying $3M in sales for the month of April), -8.9% vs. March sales of 33.6M units. We assume for now that the sales trajectory will improve over the next 2 months and Ofirmev will be able to meet management’s guidance of $10.0-10.4M for 2Q12. However, we are lowering our sales trajectory for the
product beyond 2Q12 and now estimate sales of $45M for 2012 ($80M previously) and 4100M for 2.013 ($180M previously). This impacted our 2012 and 2013 EPS ests. by -$0.26 and -$0.59, respectively.
For an analyst ratings summary and ratings history on Cadence Pharma click here. For more ratings news on Cadence Pharma click here.
Shares of Cadence Pharma closed at $2.96 yesterday, with a 52 week range of $2.56-$9.75.
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Analyst, Ami Fadia, said, "Our takeaway: Ofirmev’s sales remain disappointing; 2Q guidance at risk...IMS reported extended unit sales for the month of April were 30.0M (implying $3M in sales for the month of April), -8.9% vs. March sales of 33.6M units. We assume for now that the sales trajectory will improve over the next 2 months and Ofirmev will be able to meet management’s guidance of $10.0-10.4M for 2Q12. However, we are lowering our sales trajectory for the
product beyond 2Q12 and now estimate sales of $45M for 2012 ($80M previously) and 4100M for 2.013 ($180M previously). This impacted our 2012 and 2013 EPS ests. by -$0.26 and -$0.59, respectively.
For an analyst ratings summary and ratings history on Cadence Pharma click here. For more ratings news on Cadence Pharma click here.
Shares of Cadence Pharma closed at $2.96 yesterday, with a 52 week range of $2.56-$9.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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