Canaccord Genuity Maintains a 'Buy' on MAP Pharmaceuticals (MAPP); Q1 EPS A Non-event; Focus Remains on LEVADEX
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Price: $28.16 +0.64%
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on MAP Pharmaceuticals (NASDAQ: MAPP) price target of $23.00.
Analyst, Randall Stanicky, said, "MAPP reported adjusted EPS for Q1 of ($0.49) versus our estimate of ($0.38), while providing collaboration revenue and spend guidance for the remainder of the year (excluding potential incremental launch costs). Key upcoming data point remains the FDA end of review meeting, which should come sometime in Q2 and provide more clarity with regards to the pathway to ultimate approval for key migraine drug LEVADEX. While we understand the weakness in the stock (-25%) since the Complete Response Letter was received pushing out approval, we see a less binary story now with valuation proposition intact and attractive value for those with patience. We still see early ’13 approval as the most likely timing at this point."
For an analyst ratings summary and ratings history on MAP Pharmaceuticals click here. For more ratings news on MAP Pharmaceuticals click here.
Shares of MAP Pharmaceuticals closed at $12.10 yesterday.
Analyst, Randall Stanicky, said, "MAPP reported adjusted EPS for Q1 of ($0.49) versus our estimate of ($0.38), while providing collaboration revenue and spend guidance for the remainder of the year (excluding potential incremental launch costs). Key upcoming data point remains the FDA end of review meeting, which should come sometime in Q2 and provide more clarity with regards to the pathway to ultimate approval for key migraine drug LEVADEX. While we understand the weakness in the stock (-25%) since the Complete Response Letter was received pushing out approval, we see a less binary story now with valuation proposition intact and attractive value for those with patience. We still see early ’13 approval as the most likely timing at this point."
For an analyst ratings summary and ratings history on MAP Pharmaceuticals click here. For more ratings news on MAP Pharmaceuticals click here.
Shares of MAP Pharmaceuticals closed at $12.10 yesterday.
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