Leerink Swann Upgrades Savient Pharmaceuticals (SVNT) to Market Perform; Estimates Have Come Down, But May Be Met
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Price: $40.05 --0%
Rating Summary:
2 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
2 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Leerink Swann upgraded Savient Pharmaceuticals (NASDAQ: SVNT) from Underperform to Market Perform. PT doubled from $4 to $8.
Leerink analyst says, "On average, physicians have prescribed Krystexxa to 0.5 patients each (range: 0-1) and have around 5 additional patients they consider candidates. The 90 surveyed rheumatologists estimated an additional 419 Krystexxa candidates under their care, which indicates ~20,000 Krystexxa candidates in total, when grossed-up to the ~4,500 rheumatologists in the US. Patients appear highly concentrated since 78% of rheumatologists stated they have fewer than 5 additional Krystexxa candidates."
"Sensitivity analysis suggests that in order to meet the Krystexxa consensus sales estimate of $1.6MM in 2Q11, SVNT needs only 111 new patients in 2Q11. Since our survey identified at least 60 new patients in 2Q11, we believe this is achievable. In order to make the 2011E Krystexxa consensus of $13MM, SVNT needs an average of at least 171 new patients on Krystexxa each quarter this year (545 new pts in total in 2011)."
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 $7.39 yesterday.
Leerink analyst says, "On average, physicians have prescribed Krystexxa to 0.5 patients each (range: 0-1) and have around 5 additional patients they consider candidates. The 90 surveyed rheumatologists estimated an additional 419 Krystexxa candidates under their care, which indicates ~20,000 Krystexxa candidates in total, when grossed-up to the ~4,500 rheumatologists in the US. Patients appear highly concentrated since 78% of rheumatologists stated they have fewer than 5 additional Krystexxa candidates."
"Sensitivity analysis suggests that in order to meet the Krystexxa consensus sales estimate of $1.6MM in 2Q11, SVNT needs only 111 new patients in 2Q11. Since our survey identified at least 60 new patients in 2Q11, we believe this is achievable. In order to make the 2011E Krystexxa consensus of $13MM, SVNT needs an average of at least 171 new patients on Krystexxa each quarter this year (545 new pts in total in 2011)."
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 $7.39 yesterday.
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