Global Hunter Securities Starts Aegerion Pharmaceuticals (AEGR) at Buy; Lomitapide – A Potential Best-in-Class Drug
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Price: $1.97 --0%
Rating Summary:
8 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
8 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Global Hunter Securities initiates coverage on Aegerion Pharmaceuticals (NASDAQ: AEGR) with a Buy. PT $23.
Global analyst said, "We view Aegerion’s main value driver, lomitapide, which is an oral, first-in-class small-molecule MTP inhibitor in a Phase III study for the treatment of homozygous familial hypercholesterolemia (HoFH), as a potential best-in-class LDL cholesterol-lowering treatment. Based on robust data including 26- and 56-week pivotal data, we view the probability of an H2:12 US approval at 70% and believe lomitapide could achieve commercial success particularly around combination use with statins and LDL apheresis. We estimate peak global sales could reach $270 million based on 6,000 patients and a $150,000 drug pricing. We view Isis Pharmaceuticals (Nasdaq: ISIS)/Genzyme’s (Nasdaq: GENZ) mipomersen as lomitapide’s closest competitor with its six-month development lead. Although AEGR’s near-term success is correlated with a potential approval and launch, we believe the drug can provide several other shots on goal in indications such as pediatric HoFH and familial chylomicronemia (FC), which we view as call options. We see nearing milestones such as 78-week lomitapide data (Q3) and NDA and MAA filings (Q4) as value drivers."
For more ratings news on Aegerion Pharmaceuticals click here and for the rating history of Aegerion Pharmaceuticals click here.
Shares of Aegerion Pharmaceuticals closed at $15.29 yesterday.
Global analyst said, "We view Aegerion’s main value driver, lomitapide, which is an oral, first-in-class small-molecule MTP inhibitor in a Phase III study for the treatment of homozygous familial hypercholesterolemia (HoFH), as a potential best-in-class LDL cholesterol-lowering treatment. Based on robust data including 26- and 56-week pivotal data, we view the probability of an H2:12 US approval at 70% and believe lomitapide could achieve commercial success particularly around combination use with statins and LDL apheresis. We estimate peak global sales could reach $270 million based on 6,000 patients and a $150,000 drug pricing. We view Isis Pharmaceuticals (Nasdaq: ISIS)/Genzyme’s (Nasdaq: GENZ) mipomersen as lomitapide’s closest competitor with its six-month development lead. Although AEGR’s near-term success is correlated with a potential approval and launch, we believe the drug can provide several other shots on goal in indications such as pediatric HoFH and familial chylomicronemia (FC), which we view as call options. We see nearing milestones such as 78-week lomitapide data (Q3) and NDA and MAA filings (Q4) as value drivers."
For more ratings news on Aegerion Pharmaceuticals click here and for the rating history of Aegerion Pharmaceuticals click here.
Shares of Aegerion Pharmaceuticals closed at $15.29 yesterday.
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