Oppenheimer Cuts Price Target on ViroPharma (VPHM), But Still Bullish
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Price: $49.96 --0%
Rating Summary:
5 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer cut estimates and its price target on ViroPharma (NASDAQ: VPHM) to $27 after the FDA denied the Citizen's Petition related to Vancocin while also informing VPHM that the sNDA for Vancocin would not qualify for three additional years of exclusivity. However the firm is keeping its Outperform rating.
"We expect VPHM to file a preliminary injunction against generic launches, although we see this as a high legal hurdle; to be conservative, we assume the injunction is not granted and generics launch immediately," the analyst comments. "Importantly, while VPHM has no plans to reduce the price of branded Vancocin, we believe it will retain a meaningful portion of the market through launch of a Vancocin authorized generic. While we are reducing our PT/ests to reflect earlier than expected approval of generic Vancocin, we maintain our Outperform rating."
Q2 EPS goes down form $0.42 to $0.30, Q4 EPS from $0.43 to $0.29 and Q4 from $0.42 to $0.27. FY12 EPS goes from $1.66 to $1.25 and FY13 from $1.90 to $1.21.
For an analyst ratings summary and ratings history on ViroPharma click here. For more ratings news on ViroPharma click here.
Shares of ViroPharma closed at $22.44 yesterday.
"We expect VPHM to file a preliminary injunction against generic launches, although we see this as a high legal hurdle; to be conservative, we assume the injunction is not granted and generics launch immediately," the analyst comments. "Importantly, while VPHM has no plans to reduce the price of branded Vancocin, we believe it will retain a meaningful portion of the market through launch of a Vancocin authorized generic. While we are reducing our PT/ests to reflect earlier than expected approval of generic Vancocin, we maintain our Outperform rating."
Q2 EPS goes down form $0.42 to $0.30, Q4 EPS from $0.43 to $0.29 and Q4 from $0.42 to $0.27. FY12 EPS goes from $1.66 to $1.25 and FY13 from $1.90 to $1.21.
For an analyst ratings summary and ratings history on ViroPharma click here. For more ratings news on ViroPharma click here.
Shares of ViroPharma closed at $22.44 yesterday.
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