Durata Therapeutics (DRTX) PT Bumped at Jefferies on FDA Approval

Jefferies reiterated a Hold rating and bumped his price target on Durata Therapeutics (NASDAQ: DRTX) to $15.00 (from $14.00) after the company received FDA approval for Dalvance, as expected.

Analyst Eun K. Yang, Ph.D. said, "FDA approval of Dalvance for ABSSSI is positive, albeit widely expected. We continue to view commercial success as the key value driver for DRTX. With potential competitions entry in 2014 (tedizolid & oritavancin PDUFA dates on 6/20/14 & 8/6/14) in crowded MRSA market, coupled with its valuation solely driven by single-product Dalvance, we maintain our neutral view on DRTX."

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

Shares of Durata Therapeutics closed at $16.89 yesterday.

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