Leerink Swann Reiterates an 'Outperform' on Cadence Pharma (CADX); View on Ofirmev Markman Hearing and Upcoming Decisions
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Price: $6.97 +4.03%
Rating Summary:
6 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
6 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade CADX Now!
Leerink Swann reiterates an 'Outperform' on Cadence Pharma (NASDAQ: CADX) price target of $5.00.
Analyst, Michael Schmidt, said, "We attended the Ofirmev Markman hearing in Wilmington, DE last Friday. In our view, CADX's lawyers looked experienced and convincing at the hearing and Paddock/Exela didn't do themselves any favors by not providing any proposed construction on some of the disputed key terms. Judge Stark didn't indicate which way he was leaning on any of the terms with exception of "stable" and "aqueous solution" where Stark seemed to hedge toward CADX's interpretations, potentially giving CADX more leeway on the '222 patent. We believe the claim construction court decision following the hearing and expected within a few months could trigger a settlement ahead of the 2013 scheduled bench trial, which would remove a key overhang on CADX."
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 $3.89 yesterday, with a 52 week range of $2.56-$7.78.
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Analyst, Michael Schmidt, said, "We attended the Ofirmev Markman hearing in Wilmington, DE last Friday. In our view, CADX's lawyers looked experienced and convincing at the hearing and Paddock/Exela didn't do themselves any favors by not providing any proposed construction on some of the disputed key terms. Judge Stark didn't indicate which way he was leaning on any of the terms with exception of "stable" and "aqueous solution" where Stark seemed to hedge toward CADX's interpretations, potentially giving CADX more leeway on the '222 patent. We believe the claim construction court decision following the hearing and expected within a few months could trigger a settlement ahead of the 2013 scheduled bench trial, which would remove a key overhang on CADX."
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 $3.89 yesterday, with a 52 week range of $2.56-$7.78.
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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