Citadel Securities Maintains a 'Neutral' on Savient Pharmaceuticals (SVNT); Ilaris FDA Panel Rejection Removes Potential Krystexxa Adoption Overhang
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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
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Citadel Securities maintains a 'Neutral' on Savient Pharmaceuticals (NASDAQ: SVNT)
Citadel analyst said, "We continue to anticipate a slow launch ramp for Krystexxa until 2Q12, at which point we believe the impact of a permanent J-code could cause a meaningful inflection in sales. We estimate U.S. Krystexxa revenues of $6.0MM in 2011 and $45.2MM in 2012. Additionally, we continue to anticipate approval of Krystexxa in the EU in early 2012, followed by a country-by-country launch in mid-2012. We believe SVNT will be able to meet U.S. and potential EU demand for Krystexxa based on the current single-source supply until a second manufacturer comes on-line."
For more ratings news on Savient Pharmaceuticals click here and for the rating history of Savient Pharmaceuticals click here.
Shares of Savient Pharmaceuticals closed at $6.87 yesterday.
Citadel analyst said, "We continue to anticipate a slow launch ramp for Krystexxa until 2Q12, at which point we believe the impact of a permanent J-code could cause a meaningful inflection in sales. We estimate U.S. Krystexxa revenues of $6.0MM in 2011 and $45.2MM in 2012. Additionally, we continue to anticipate approval of Krystexxa in the EU in early 2012, followed by a country-by-country launch in mid-2012. We believe SVNT will be able to meet U.S. and potential EU demand for Krystexxa based on the current single-source supply until a second manufacturer comes on-line."
For more ratings news on Savient Pharmaceuticals click here and for the rating history of Savient Pharmaceuticals click here.
Shares of Savient Pharmaceuticals closed at $6.87 yesterday.
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