Jefferies Cuts Target on Vivus (VVUS) after FDA CV Panel, Keeps Lowest Rating

Jefferies cuts its price target on Vivus (NASDAQ: VVUS) from $12 to $9 after yesterday's FDA CV panel.

The firm comments, "In spite of an unfavorable FDA panel vote recommending combined pre- and post-approval CV safety analyses even for obesity drugs without a theoretical risk of CV harm, after-market VVUS stock price indications still reflect strong optimism around approval. We remain cautious on the bull argument for several reasons outlined below and see a significant risk that Qnexa is subject to additional CV risk evaluation prior to approval."

For an analyst ratings summary and ratings history on Vivus click here. For more ratings news on Vivus click here.

Shares of Vivus closed at $21.28 yesterday.

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