Needham & Company Defends on Optimer (OPTR); Favorable Long-Term Trend Intact

Needham & Company reiterates a 'Buy' on Optimer Pharmaceuticals (NASDAQ: OPTR) price target of $19.00.

Analyst, Alan Carr, said, "Optimer reported $15.2M in 2Q12 Dificid net sales, below our $18M estimate. GAAP diluted EPS of $(0.01) was below our $0.03 estimate, but above consensus $(0.06). Management cited destocking in the quarter, seasonal decline in C. difficile, and an increase in gross-net. Gross sales have reportedly rebounded +23% July/June, consistent with recent favorable trends in IMS data. Consequently, despite the miss this quarter, we believe the long-term Dificid story is intact. We believe the stock is underappreciated ($500M EV) and reiterate our rating."

FY12 EPS lowered from (1.14) to (1.30) and FY13 from (0.22) to (0.46)

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

Shares of Optimer Pharmaceuticals closed at $13.66 yesterday.

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