Analyst Bullish as Aegerion (AEGR) Drug Approved with Broad Label
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Rating Summary:
8 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 16 | New: 16
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On Monday Aegerion Pharmaceuticals, Inc. (Nasdaq: AEGR) announced that the U.S. Food & Drug Administration approved JUXTAPID (lomitapide) capsules as an adjunct to a low-fat diet and other lipid-lowering treatments. In response, Leerink Swann reiterated an Outperform rating on Aegerion and raised its price target to $30.00 (from $25.00).
"Lead agent Juxtapid (lomitapide) is a smallmolecule microsomal triglyceride transfer protein (MTP) inhibitor with the unique ability to limit secretion of LDL cholesterol and triglycerides (TG) from the intestines and the liver, the two main sources of lipids in the body," noted analyst Joseph P. Schwartz.
He continued:
"The pivotal Phase III clinical trial in HoFH reported positive data on the primary endpoint at 26 weeks treatment, and management submitted a New Drug Application (NDA) to the FDA and a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) in 1Q:12. In addition to HoFH, lomitapide may also be useful for the treatment of elevated LDL cholesterol in broader patient populations, such as those suffering from severe-refractory hypercholesterolemia. We believe the robust triglyceride (TG) lowering effect of 45% observed in HoFH opens up the possibility for AEGR to pursue Familial Chylomicronemia (FC) as follow-on indication beyond HoFH, and AEGR is currently in the process of developing a protocol for a Phase II/III clinical trial of lomitapide for the treatment of patients with FC."
Importantly, AEGR obtained the broadest possible label possible for Juxtapid, and management expects to stay lean and drive toward profitability, which Schwartz views as an important goal. He projects peak lomitapide revenue of $500 million in 2027.
For an analyst ratings summary and ratings history on Aegerion Pharmaceuticals (Nasdaq: AEGR) click here. For more ratings news on Aegerion Pharmaceuticals click here.
Shares of Aegerion Pharmaceuticals closed at $25.25 yesterday.
"Lead agent Juxtapid (lomitapide) is a smallmolecule microsomal triglyceride transfer protein (MTP) inhibitor with the unique ability to limit secretion of LDL cholesterol and triglycerides (TG) from the intestines and the liver, the two main sources of lipids in the body," noted analyst Joseph P. Schwartz.
He continued:
"The pivotal Phase III clinical trial in HoFH reported positive data on the primary endpoint at 26 weeks treatment, and management submitted a New Drug Application (NDA) to the FDA and a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) in 1Q:12. In addition to HoFH, lomitapide may also be useful for the treatment of elevated LDL cholesterol in broader patient populations, such as those suffering from severe-refractory hypercholesterolemia. We believe the robust triglyceride (TG) lowering effect of 45% observed in HoFH opens up the possibility for AEGR to pursue Familial Chylomicronemia (FC) as follow-on indication beyond HoFH, and AEGR is currently in the process of developing a protocol for a Phase II/III clinical trial of lomitapide for the treatment of patients with FC."
Importantly, AEGR obtained the broadest possible label possible for Juxtapid, and management expects to stay lean and drive toward profitability, which Schwartz views as an important goal. He projects peak lomitapide revenue of $500 million in 2027.
For an analyst ratings summary and ratings history on Aegerion Pharmaceuticals (Nasdaq: AEGR) click here. For more ratings news on Aegerion Pharmaceuticals click here.
Shares of Aegerion Pharmaceuticals closed at $25.25 yesterday.
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