McNicoll Lewis & Vlak Upgrades Transcept Pharmaceuticals (TSPT) to Buy; Greater Confidence in the Approval of Intermezzo
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Price: $1.70 --0%
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 9 | New: 8
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 9 | New: 8
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McNicoll Lewis & Vlak upgraded Transcept Pharmaceuticals (NASDAQ: TSPT) from Hold to Buy with a price target of $21.00.
MLV analyst said, "After several in-depth discussions with TSPT management, physicians, and investors, we have gained greater confidence in the approval of Intermezzo® for middle of the night (MOTN) insomnia. While the stock has made a phenomenal move from its $2.60 lows in July, we see additional upside upon likely approval by its November 27, 2011 PDUFA date. We are more conservative with our expectation for the launch curve, which could be constrained by several factors including, final label language, production of additional packaging material, and the need for additional 1.75mg tablets for women."
For more ratings news on Transcept Pharmaceuticals click here and for the rating history of Transcept Pharmaceuticals click here.
Shares of Transcept Pharmaceuticals closed at $8.72 yesterday.
MLV analyst said, "After several in-depth discussions with TSPT management, physicians, and investors, we have gained greater confidence in the approval of Intermezzo® for middle of the night (MOTN) insomnia. While the stock has made a phenomenal move from its $2.60 lows in July, we see additional upside upon likely approval by its November 27, 2011 PDUFA date. We are more conservative with our expectation for the launch curve, which could be constrained by several factors including, final label language, production of additional packaging material, and the need for additional 1.75mg tablets for women."
For more ratings news on Transcept Pharmaceuticals click here and for the rating history of Transcept Pharmaceuticals click here.
Shares of Transcept Pharmaceuticals closed at $8.72 yesterday.
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