Leerink Swann Raises Valuation Range on QLT Inc. (QLTI) Following Positive Phase II Punctal Plug Data
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Price: $27.85 -0.25%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Leerink Swann is maintaining its Outperform rating on shares of QLT Inc (NASDAQ: QLTI) and is raising its price valuation range to $18-$20 following positive Phase II results for its latanaprost punctal plug trial in patients with glaucoma.
The firm notes that the overall consensus on the trial was low expectations so this is a great upside for the company.
An analyst at the firm comments, "Although it will take some additional time to optimize the upper punctal plug design, we believe that this program represents another value driver to the QLTI story."
The firm believes that shares still offer an attractive risk/reward ration even with the recent rise in the company's stock price.
Currently Leerink Swann forecasts EPS of ($0.64) and ($0.88) for 2011 and 2011, down from ($0.48) and ($0.67). The firm reaffirmed its sales estimates for 2011 and 2012 of $42.8 million and $43 million.
For more ratings news on QLT Inc click here and for the rating history of QLT Inc click here.
Shares of QLT Inc closed at $6.43 yesterday.
The firm notes that the overall consensus on the trial was low expectations so this is a great upside for the company.
An analyst at the firm comments, "Although it will take some additional time to optimize the upper punctal plug design, we believe that this program represents another value driver to the QLTI story."
The firm believes that shares still offer an attractive risk/reward ration even with the recent rise in the company's stock price.
Currently Leerink Swann forecasts EPS of ($0.64) and ($0.88) for 2011 and 2011, down from ($0.48) and ($0.67). The firm reaffirmed its sales estimates for 2011 and 2012 of $42.8 million and $43 million.
For more ratings news on QLT Inc click here and for the rating history of QLT Inc click here.
Shares of QLT Inc closed at $6.43 yesterday.
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