Aegerion (AEGR) Q1 Juxtapid Sales 'Surprisingly Weak', Jefferies Says

Jefferies analyst Eun K. Yang, Ph.D lowered his price target on Buy-rated Aegerion Pharmaceuticals (NASDAQ: AEGR) to $61.00 (from $80.00) following 'surprisingly' weak Q1 Juxtapid sales.

Yang comments, "While AEGR is confident of meeting its ~5% lowered guidance ($180M-$200M), surprisingly weak 1Q14 Juxtapid sales (18-21% below our/cons) is less assuring. In the absence of detailed metrics to reasonably forecast sales (beyond guidance), we're lowering our FY14 estimate below guidance ($166M, ~17% lower vs. previously); reset PT at $61 (vs. prior $80)."

The firm cut Q2 EPS from ($0.10) to ($0.45), FY 2014 EPS from ($0.41) to ($1.52) and FY 2015 EPS from $3.86 to $1.18.

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

Shares of Aegerion Pharmaceuticals closed at $44.16 yesterday.

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