Leerink Swann Starts Santarus (SNTS) at Outperform

January 31, 2013 7:48 AM EST
Get Alerts SNTS Hot Sheet
Price: $31.96 --0%

Rating Summary:
    3 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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Leerink Swann initiates coverage on Santarus (NASDAQ: SNTS) with a Outperform with a valuation range of $15-$16.

The firm comments, "We are initiating coverage of SNTS with an Outperform rating for several reasons including: (1) positive KOL feedback on the recently approved Uceris for ulcerative colitis (UC) -- we forecast $235m in '18E sales; (2) near-term catalysts -- a post-market Uceris study and potential Cycloset (HAE) patent issuance -- provide upside to our valuation; and (3) Zegerid for heartburn - mkt recapture and modest damages provide significant cash flow for biz development. We value SNTS at $15-16/shr based on DCF, and bull case catalysts could drive valuation to $18-19/shr."

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

Shares of Santarus closed at $12.93 yesterday.

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