Canaccord Genuity Assumes Coverage on Pharmasset (VRUS) at Buy; Blockbuster Potential of HCV Therapeutic Franchise
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Price: $0.00 --0%
Rating Summary:
3 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity assumes coverage on Pharmasset (NASDAQ: VRUS); maintains a Buy. New price target $160.
Canaccord analyst, Dr. George Farmer, said, "In our view, Phase II potency of lead asset PSI-7977 establishes this drug as one of the most promising new direct antiviral agents (DAAs) in a rapidly evolving HCV treatment space. So far, we see relatively uncomplicated positioning for PSI-7977 as treatment of non-GT1 HCV genotypes, given GT1 specificity of newly approved DAAs telaprevir (Vertex) and boceprevir (Merck). Market potential in non-GT1 infected patients alone supports continued likelihood of upside on top of a ~150% YTD stock appreciation, in our view."
For more ratings news on Pharmasset click here and for the rating history of Pharmasset click here.
Shares of Pharmasset closed at $112.20 yesterday.
Canaccord analyst, Dr. George Farmer, said, "In our view, Phase II potency of lead asset PSI-7977 establishes this drug as one of the most promising new direct antiviral agents (DAAs) in a rapidly evolving HCV treatment space. So far, we see relatively uncomplicated positioning for PSI-7977 as treatment of non-GT1 HCV genotypes, given GT1 specificity of newly approved DAAs telaprevir (Vertex) and boceprevir (Merck). Market potential in non-GT1 infected patients alone supports continued likelihood of upside on top of a ~150% YTD stock appreciation, in our view."
For more ratings news on Pharmasset click here and for the rating history of Pharmasset click here.
Shares of Pharmasset closed at $112.20 yesterday.
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