Leerink Swann Starts Par Pharmaceutical (PRX) at Outperform; Under-Appreciated Pipeline

Leerink Swann initiates coverage on Par Pharmaceutical (NYSE: PRX) with a Outperform. PT $34.50.

Leerink analyst says, "We recommend that long-term investors build a position as we believe PRX offers (1) an exciting generics pipeline led by Lovaza & Asacol that we believe can deliver durable EPS contribution in 2013-15; (2) potential upside opportunities from Travatan Z and Asacol; (3) diminishing overhang on the long-term earnings growth from Toprol-XL erosion; and (4) a strategically attractive portfolio in a consolidating market."

For more ratings news on Par Pharmaceutical click here and for the rating history of Par Pharmaceutical click here.

Shares of Par Pharmaceutical closed at $29.44 yesterday.

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