Needham & Company Downgrades Allos Therapeutics (ALTH) to Hold; Modest Increases in FOLOTYN Sales Expected in 2011, as Company Executes Strategy
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Price: $1.84 --0%
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ALTH Now!
Needham & Company downgraded Allos Therapeutics (NASDAQ: ALTH) from Buy to Hold.
Needham analyst says, "Last night, Allos reviewed its 1Q11 results and provided its 2011 outlook, and the news was disappointing. FOLOTYN sales were $10.9MM for 1Q11, below consensus ($12.4MM) and our estimate ($13.2MM). The Company provided guidance for the first time for 2011, with expected FOLOTYN sales of $48-55MM, well below consensus ($63MM) and our estimate ($65MM). After a full year of commercial sales, growth has been hampered by a soft launch, short duration of therapy, and shifting marketing focus. Allos management has repeatedly stated a FOLOTYN market potential of $400MM for PTCL in the US alone, yet we do not foresee a substantial increase in sales in the near-term. We expect Allos will execute on its plan to optimize FOLOTYN use in 2011 in the US, as it prepares for 2012 growth in the US and potential entry into new territories."
For more ratings news on Allos Therapeutics click here and for the rating history of Allos Therapeutics click here.
Shares of Allos Therapeutics closed at $2.85 yesterday, with a 52 week range of $2.50-$7.85.
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Needham analyst says, "Last night, Allos reviewed its 1Q11 results and provided its 2011 outlook, and the news was disappointing. FOLOTYN sales were $10.9MM for 1Q11, below consensus ($12.4MM) and our estimate ($13.2MM). The Company provided guidance for the first time for 2011, with expected FOLOTYN sales of $48-55MM, well below consensus ($63MM) and our estimate ($65MM). After a full year of commercial sales, growth has been hampered by a soft launch, short duration of therapy, and shifting marketing focus. Allos management has repeatedly stated a FOLOTYN market potential of $400MM for PTCL in the US alone, yet we do not foresee a substantial increase in sales in the near-term. We expect Allos will execute on its plan to optimize FOLOTYN use in 2011 in the US, as it prepares for 2012 growth in the US and potential entry into new territories."
For more ratings news on Allos Therapeutics click here and for the rating history of Allos Therapeutics click here.
Shares of Allos Therapeutics closed at $2.85 yesterday, with a 52 week range of $2.50-$7.85.
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