Leerink Swann: Buyers of Orexigen Therapeutics (OREX) Into Next Panel; Preferred Small/Midcap Biotech Pick
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Price: $0.22 --0%
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Leerink Swann reiterates an 'Outperform' on Orexigen Therapeutics (NASDAQ: OREX) price target of $5.00.
Analyst, Joshua Schimmer, said, "Following the positive Qnexa FDA Advisory Committee panel vote, We still see OREX as the best-positioned obesity play given its modest relative valuation, agreement with the FDA on CV study design for Contrave, potential upside to projected timelines and pipeline product Empatic..."
"OREX agreed to pursue the SPA with the FDA with the agreement that it would be binding regardless of the CV outcomes panel discussion. As such, we don't see how OREX can come out any further behind, regardless of what answers arise for the questions being postulated. For competitors, Vivus's (Nasdaq: VVUS) (OP) Qnexa could face a delay if the panel deems a pre-approval CV outcomes start, although it would at least provide final clarity on path to market. For Arena (Nasdaq: ARNA) (MP), there is no evidence to believe it may have a CV signal although the FDA may worry more about ruling out smaller levels of heart valve risk over a longer period of time. The problem with a large study of this sort is the large cost of serial 2D-echo's. As such, OREX remains our preferred play in obesity and a top pick in small/mid biotech."
For an analyst ratings summary and ratings history on Orexigen Therapeutics click here. For more ratings news on Orexigen Therapeutics click here.
Shares of Orexigen Therapeutics closed at $3.21 yesterday.
Analyst, Joshua Schimmer, said, "Following the positive Qnexa FDA Advisory Committee panel vote, We still see OREX as the best-positioned obesity play given its modest relative valuation, agreement with the FDA on CV study design for Contrave, potential upside to projected timelines and pipeline product Empatic..."
"OREX agreed to pursue the SPA with the FDA with the agreement that it would be binding regardless of the CV outcomes panel discussion. As such, we don't see how OREX can come out any further behind, regardless of what answers arise for the questions being postulated. For competitors, Vivus's (Nasdaq: VVUS) (OP) Qnexa could face a delay if the panel deems a pre-approval CV outcomes start, although it would at least provide final clarity on path to market. For Arena (Nasdaq: ARNA) (MP), there is no evidence to believe it may have a CV signal although the FDA may worry more about ruling out smaller levels of heart valve risk over a longer period of time. The problem with a large study of this sort is the large cost of serial 2D-echo's. As such, OREX remains our preferred play in obesity and a top pick in small/mid biotech."
For an analyst ratings summary and ratings history on Orexigen Therapeutics click here. For more ratings news on Orexigen Therapeutics click here.
Shares of Orexigen Therapeutics closed at $3.21 yesterday.
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