Leerink Swann Maintains an 'Outperform' on MELA Sciences (MELA); FDA Approvable Letter in Hand, Project MelaFind Final Approval in 3 Months
Tweet
Share
E-mailGet Alerts MELA Hot Sheet
Price: $1.12 --0%
Rating Summary:
4 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Leerink Swann maintains an 'Outperform' on MELA Sciences (NASDAQ: MELA) price target range raised from $11 to $13-$15.
Leerink analyst says, "We rate MELA shares Outperform. We believe that they offer an attractive investment opportunity for speculative and sophisticated institutional investors in emerging healthcare technologies based on the following considerations: 1. We believe the approvable letter on the PMA application for MELA's diagnostic aid MelaFind from the FDA in September 2011 is likely to be followed by an FDA final marketing approval; 2. We believe that MelaFind will be on the market in selected markets in Europe by the end of 2011 and in the US in the first quarter of 2012; 3. We estimate a sizable ($380M plus) recurring revenue market opportunity for an FDA-approved MelaFind, given MelaFind's clinical benefit and commercial value proposition."
For more ratings news on MELA Sciences click here and for the rating history of MELA Sciences click here.
Shares of MELA Sciences closed at $3.18 yesterday.
Leerink analyst says, "We rate MELA shares Outperform. We believe that they offer an attractive investment opportunity for speculative and sophisticated institutional investors in emerging healthcare technologies based on the following considerations: 1. We believe the approvable letter on the PMA application for MELA's diagnostic aid MelaFind from the FDA in September 2011 is likely to be followed by an FDA final marketing approval; 2. We believe that MelaFind will be on the market in selected markets in Europe by the end of 2011 and in the US in the first quarter of 2012; 3. We estimate a sizable ($380M plus) recurring revenue market opportunity for an FDA-approved MelaFind, given MelaFind's clinical benefit and commercial value proposition."
For more ratings news on MELA Sciences click here and for the rating history of MELA Sciences click here.
Shares of MELA Sciences closed at $3.18 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- DA Davidson Starts Everus (ECG) at Buy
- Benchmark Reiterates Buy Rating on Rank One Computing (ROC)
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
