Needham & Company Starts Aegerion Pharmaceuticals (AEGR) at Buy; Looking For Approval of Oral Orphan Cardiac Disease Treatment

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Needham & Company initiates coverage on Aegerion Pharmaceuticals (NASDAQ: AEGR) with a Buy. PT $24.00.

Analyst, Chad Messer, said, "Aegerion has filed for U.S. and European approval for lomitapide, a once daily oral medication to treat rare genetic cholesterol disorder, homozygous familial hypercholesterolemia (HoFH). We expect approval in both territories by 1H:13. Lomitapide will likely face competition from Isis Pharma (Nasddaq: ISIS)/Genzyme’s Kynamro but we expect lomitapide to be the market leader in HoFH given patient need and lomitapide’s oral delivery versus Kynamro’s weekly injection and tolerability issues. At current levels, we find the risk:reward for AEGR shares compelling."

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

Shares of Aegerion Pharmaceuticals closed at $14.48 yesterday, with a 52 week range of $11.75-$19.40.

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