Needham & Company Maintains a 'Buy' on Optimer Pharmaceuticals (OPTR); Dificid Growth Offers Further Appreciation in Stock Price
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Price: $12.78 --0%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Optimer Pharmaceuticals (NASDAQ: OPTR).
Needham analyst says, "Dificid was approved by the FDA for the treatment of C. difficile-associated diarrhea (CDAD) in April 2011 and launched in July 2011. Preliminary sales figures announced by the company are better than expected...Enlisting Cubist to accelerate market penetration around launch appears to have been helpful. However, if certain unspecified sales targets are reached, a greater proportion of revenues will be diverted to Cubist...While many individual hospitals appear to have taken an early aggressive approach with Dificid (first line use for severe cases), we do not expect revision to IDSA/SHEA guidelines any time soon."
"A European regulatory response (CHMP opinion) is expected as early as 9/23/11. Dificid is partnered in Europe, the Middle East, and Africa with Astellas. Upcoming expected milestone payments from Astellas include €10M (launch in first country) and €40MM (launch in second country or 6 months after EMA approval, whichever is first). We expect the first of these milestones to be reached by early 2012."
"We believe the stock has room for further appreciation ($600MM EV). Optimer ended 2Q11 with $180M in cash."
For more ratings news on Optimer Pharmaceuticals click here and for the rating history of Optimer Pharmaceuticals click here.
Shares of Optimer Pharmaceuticals closed at $16.77 yesterday.
Needham analyst says, "Dificid was approved by the FDA for the treatment of C. difficile-associated diarrhea (CDAD) in April 2011 and launched in July 2011. Preliminary sales figures announced by the company are better than expected...Enlisting Cubist to accelerate market penetration around launch appears to have been helpful. However, if certain unspecified sales targets are reached, a greater proportion of revenues will be diverted to Cubist...While many individual hospitals appear to have taken an early aggressive approach with Dificid (first line use for severe cases), we do not expect revision to IDSA/SHEA guidelines any time soon."
"A European regulatory response (CHMP opinion) is expected as early as 9/23/11. Dificid is partnered in Europe, the Middle East, and Africa with Astellas. Upcoming expected milestone payments from Astellas include €10M (launch in first country) and €40MM (launch in second country or 6 months after EMA approval, whichever is first). We expect the first of these milestones to be reached by early 2012."
"We believe the stock has room for further appreciation ($600MM EV). Optimer ended 2Q11 with $180M in cash."
For more ratings news on Optimer Pharmaceuticals click here and for the rating history of Optimer Pharmaceuticals click here.
Shares of Optimer Pharmaceuticals closed at $16.77 yesterday.
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