UPDATE - UBS Initiates Coverage on Pharmasset (VRUS) with a Buy; Going NUCLEAR
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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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UPDATE - UBS initiates coverage on shares of Pharmasset (NASDAQ: VRUS) with a Buy. PT $160.
UBS analyst says, "Key tenets to our thesis - The following are keys to our Buy rating (1) despite the launch of protease inhibitors, a significant opportunity remains into the next decade for next-generation companies; (2) PSI-7977 and -938 clinical data over the next 12 months increase confidence in the Pharmasset portfolio; (3) the QUANTUM study could establish the PSI-7977/938 all-oral combo regimen as the “holy grail” of HCV treatment; (4) strong intellectual property protects the franchise until at least 2029."
"If phase-I and -II are predictive, there’s still big upside in VRUS shares - VRUS shares are up more than 180% YTD on upside to NUCLEAR and PROTON data. However, if the cure rates and safety are maintained, which are predicted by results to date, we see significant upside from here. Our $160 price target implies ~30% upside with PROTON and ELECTRON data at liver conferences (4Q11 and 2Q12), with potential for further upside with QUANTUM by YE-2012 (UBSe)."
UBS analyst says, "Key tenets to our thesis - The following are keys to our Buy rating (1) despite the launch of protease inhibitors, a significant opportunity remains into the next decade for next-generation companies; (2) PSI-7977 and -938 clinical data over the next 12 months increase confidence in the Pharmasset portfolio; (3) the QUANTUM study could establish the PSI-7977/938 all-oral combo regimen as the “holy grail” of HCV treatment; (4) strong intellectual property protects the franchise until at least 2029."
"If phase-I and -II are predictive, there’s still big upside in VRUS shares - VRUS shares are up more than 180% YTD on upside to NUCLEAR and PROTON data. However, if the cure rates and safety are maintained, which are predicted by results to date, we see significant upside from here. Our $160 price target implies ~30% upside with PROTON and ELECTRON data at liver conferences (4Q11 and 2Q12), with potential for further upside with QUANTUM by YE-2012 (UBSe)."
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