Leerink Swann Starts Transcept Pharmaceuticals (TSPT) at Outperform; Advancing in Insomnia

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Leerink Swann initiates coverage on Transcept Pharmaceuticals (NASDAQ: TSPT) with a Outperform. PT range $13-$14.

Analyst, Jason M. Gerberry, said, "We see TSPT as well positioned to benefit from the recent launch of Intermezzo, the first drug approved for the treatment of middle of the night (MOTN) insomnia. Epidemiology data suggest a large population of patients suffer from MOTN insomnia, an underserved segment of the market according to MEDACorp physician key opinion leaders (KOLs), who expect Intermezzo to capture significant market share based on the drug's unique activity profile. Also, based on our checks with a MEDACorp patent specialist, we believe Intermezzo will be a durable asset -- we estimate the royalty on Intermezzo alone is worth $10-$11/share."

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

Shares of Transcept Pharmaceuticals closed at $6.74 yesterday, with a 52 week range of $2.58-$12.99.

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