Wedbush Assumes Coverage on Savient Pharma (SVNT) at Outperform, $15 Target
Tweet
Share
E-mailGet Alerts SVNT Hot Sheet
Price: $40.05 --0%
Rating Summary:
2 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
An analyst at Wedbush assumed coverage on Savient Pharmaceuticals (NASDAQ: SVNT) with an Outperform rating and a $15 price target Monday.
The firm noted, "Before the February launch of the company's drug Krystexxa, the last meaningful improvement in gout therapy occurred in the 1960s..." Wedbush calls Krystexxa "a breakthrough in the treatment of severe gout."
Assuming an initial target patient population of about 170,000 in the US, and a price of about $2,300 per vial of Krystexxa, Wedbush believes Savient's market opportunity could exceed $3 billion.
With Savient shares trading up 0.1 percent to $10.43 Monday, Wedbush's new price target implies potential upside of about 44 percent.
For more ratings news on Savient Pharmaceuticals click here and for the rating history of Savient Pharmaceuticals click here.
The firm noted, "Before the February launch of the company's drug Krystexxa, the last meaningful improvement in gout therapy occurred in the 1960s..." Wedbush calls Krystexxa "a breakthrough in the treatment of severe gout."
Assuming an initial target patient population of about 170,000 in the US, and a price of about $2,300 per vial of Krystexxa, Wedbush believes Savient's market opportunity could exceed $3 billion.
With Savient shares trading up 0.1 percent to $10.43 Monday, Wedbush's new price target implies potential upside of about 44 percent.
For more ratings news on Savient Pharmaceuticals click here and for the rating history of Savient Pharmaceuticals click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)
- BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
- Axis Capital Limited Assumes Jubilant Foodworks Ltd (JUBI:IN) at Reduce (3)
Create E-mail Alert Related Categories
New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
