Canaccord Genuity Reiterates a 'Buy' on Cadence Pharma (CADX); Encouraging October Ofirmev RX Trends, Stronger Balance Sheet
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Price: $13.98 --0%
Rating Summary:
2 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
2 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Cadence Pharma (NASDAQ: CADX) price target cut $1 to $9.
Canaccord analyst, Ritu Baral, said, "Lowering target to $9 on post-offering increase in share count. We think Ofirmev will ultimately be used as part of post-op analgesia in about a third of US surgical procedures and reach peak US sales of $643M. While we think Ofirmev will see broad use for in-patient procedures, we think it may see the most use in outpatient surgery and ambulatory care...We also made slight adjustments to Ofirmev-related Q4/11, 2012 and 2013 R&D based on lower expected spend."
For an analyst ratings summary and ratings history on Cadence Pharma click here. For more ratings news on Cadence Pharma click here.
Shares of Cadence Pharma closed at $4.08 yesterday.
Canaccord analyst, Ritu Baral, said, "Lowering target to $9 on post-offering increase in share count. We think Ofirmev will ultimately be used as part of post-op analgesia in about a third of US surgical procedures and reach peak US sales of $643M. While we think Ofirmev will see broad use for in-patient procedures, we think it may see the most use in outpatient surgery and ambulatory care...We also made slight adjustments to Ofirmev-related Q4/11, 2012 and 2013 R&D based on lower expected spend."
For an analyst ratings summary and ratings history on Cadence Pharma click here. For more ratings news on Cadence Pharma click here.
Shares of Cadence Pharma closed at $4.08 yesterday.
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