Canaccord Genuity Reiterates a 'Buy' on Trius Therapeutics (TSRX); Insider Plan Triggers Share Distribution
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Price: $13.63 --0%
Rating Summary:
10 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity reiterates a 'Buy' on Trius Therapeutics (NASDAQ: TSRX) price target of $12.00.
Canaccord analyst, George Farmer, said, "Per management and supported by recent SEC filings, we believe the TSRX 11.3% share decline last Friday (vs. 0.05% NBI decline) on unusually high volume (~700K shares vs. ~125K 3m average) was triggered primarily per terms of an insider’s 10b5-1 plan resulting in a 3.6M share distribution to limited partners. As we understand from management conversation, about 20% of this holding went to a partner(s) who liquidated in the open market, resulting in significant share price pressure. Management believes that related selling could be almost complete and assures of pipeline progress integrity."
"We recognize a fortuitous entry point following VC share distribution and subsequent sale of a large share block last Friday."
For an analyst ratings summary and ratings history on Trius Therapeutics click here. For more ratings news on Trius Therapeutics click here.
Shares of Trius Therapeutics closed at $5.33 yesterday.
Canaccord analyst, George Farmer, said, "Per management and supported by recent SEC filings, we believe the TSRX 11.3% share decline last Friday (vs. 0.05% NBI decline) on unusually high volume (~700K shares vs. ~125K 3m average) was triggered primarily per terms of an insider’s 10b5-1 plan resulting in a 3.6M share distribution to limited partners. As we understand from management conversation, about 20% of this holding went to a partner(s) who liquidated in the open market, resulting in significant share price pressure. Management believes that related selling could be almost complete and assures of pipeline progress integrity."
"We recognize a fortuitous entry point following VC share distribution and subsequent sale of a large share block last Friday."
For an analyst ratings summary and ratings history on Trius Therapeutics click here. For more ratings news on Trius Therapeutics click here.
Shares of Trius Therapeutics closed at $5.33 yesterday.
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