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UPDATE: Oppenheimer Downgrades Optimer Pharmaceuticals (OPTR) to Perform, Questions About Near-Term Growth

October 9, 2012 7:13 AM EDT Send to a Friend
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Price: $12.78 --0%

Rating Summary:
    4 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 10 | New: 7
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(Updated - October 9, 2012 8:19 AM EDT)

Oppenheimer downgraded Optimer Pharmaceuticals (NASDAQ: OPTR) from Outperform to Perform.

The firm comments: "On 10/8, OPTR hosted an analyst day highlighting the performance of DIFICID since launch, and more specifically during 3Q12. OPTR also presented reasoning behind the recently announced 25% price reduction for DIFICID in the hospital setting and the potentially positive impact on prescription volumes; however, we are skeptical regarding the impact of this strategy. Importantly, given the less than impressive script growth over the past few months, we are downgrading shares of OPTR to Perform rated (from Outperform). Additionally, the company disclosed 3Q12 gross sales of $18.4M, and assuming a stable gross-to-net discount over 2Q12, we estimate 3Q12 net sales of $15.5M (below our previous estimate of $20M). We are adjusting our revenue expectations for DIFICID going forward."

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

Shares of Optimer Pharmaceuticals closed at $11.46 yesterday.




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