Needham & Company Reiterates a 'Buy' on Chelsea Therapeutics (CHTP); Q4 Review: Northera PDUFA Date Approaching
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Price: $6.52 --0%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Chelsea Therapeutics (NASDAQ: CHTP) price target of $10.00.
Analyst, Alan Carr, said, "Chelsea management hosted a quarterly conference call yesterday to discuss recent events and outlook for 2012. The AdCom voted 7-4 in favor of Northera approval in Feb and the PDUFA date is Mar 28. In our opinion, the favorable AdCom vote is an important recognition of Northera’s utility in an indication with a serious unmet need. However, we believe there are meaningful risks to approval in NOH by the PDUFA date. The vote should be viewed in the context of the negative briefing documents released prior to the meeting, which reflect substantial reservations by at least some members of the FDA."
"Despite these risks, we believe Northera approval is achievable in 2012. Overall, in our opinion, the stock is undervalued ($150M EV)."
For an analyst ratings summary and ratings history on Chelsea Therapeutics click here. For more ratings news on Chelsea Therapeutics click here.
Shares of Chelsea Therapeutics closed at $3.49 yesterday.
Analyst, Alan Carr, said, "Chelsea management hosted a quarterly conference call yesterday to discuss recent events and outlook for 2012. The AdCom voted 7-4 in favor of Northera approval in Feb and the PDUFA date is Mar 28. In our opinion, the favorable AdCom vote is an important recognition of Northera’s utility in an indication with a serious unmet need. However, we believe there are meaningful risks to approval in NOH by the PDUFA date. The vote should be viewed in the context of the negative briefing documents released prior to the meeting, which reflect substantial reservations by at least some members of the FDA."
"Despite these risks, we believe Northera approval is achievable in 2012. Overall, in our opinion, the stock is undervalued ($150M EV)."
For an analyst ratings summary and ratings history on Chelsea Therapeutics click here. For more ratings news on Chelsea Therapeutics click here.
Shares of Chelsea Therapeutics closed at $3.49 yesterday.
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