Global Hunter Securities Starts Somaxon Pharma (SOMX) at Accumulate; Silenor Litigation Risk May Be Priced In
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Price: $3.00 --0%
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Global Hunter Securities initiates coverage on Somaxon Pharma (NASDAQ: SOMX) with an Accumulate. PT $3.40.
Global analyst says, "SOMX markets Silenor for insomnia characterized by difficulty with sleep maintenance. The drug was approved in 1Q10, launched in 3Q10, and has demonstrated modest but steady prescription growth in spite of heavy sampling to physicians. While Silenor is subject to potential competition from generic entrants, certain of SOMX’s intellectual property may be difficult for a generic to navigate. We believe uncertainties surrounding generic competition as well as questions on the potential market opportunity for new insomnia drugs have combined to pressure SOMX shares. In our view, however, current trading levels are pricing minimal product sales and may reflect overstated risks of generic competition. We believe the company represents an interesting emerging story in the small-cap neurology space."
For more ratings news on Somaxon Pharma click here and for the rating history of Somaxon Pharma click here.
Shares of Somaxon Pharma closed at $1.71 yesterday.
Global analyst says, "SOMX markets Silenor for insomnia characterized by difficulty with sleep maintenance. The drug was approved in 1Q10, launched in 3Q10, and has demonstrated modest but steady prescription growth in spite of heavy sampling to physicians. While Silenor is subject to potential competition from generic entrants, certain of SOMX’s intellectual property may be difficult for a generic to navigate. We believe uncertainties surrounding generic competition as well as questions on the potential market opportunity for new insomnia drugs have combined to pressure SOMX shares. In our view, however, current trading levels are pricing minimal product sales and may reflect overstated risks of generic competition. We believe the company represents an interesting emerging story in the small-cap neurology space."
For more ratings news on Somaxon Pharma click here and for the rating history of Somaxon Pharma click here.
Shares of Somaxon Pharma closed at $1.71 yesterday.
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