Soleil Raises Price Target on Hospira (HSP); Docetaxel Experiences Stronger-Than-Expected Pricing
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Rating Summary:
3 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Soleil Securities is raising its price target and estimates on shares of Hospira (NYSE: HSP) as the firm believes the company is experiencing better-than-anticipated pricing from it's recently-launched generic Docetaxel.
The firm reports that its consultant is seeing generic Docetaxel priced at a 15-20% discount to other brands in the hospital market, which is well ahead of the Street's expectation of a 35-40% discount. Soleil's consultant notes that it does not expect a significant discount to the brand even in the alternate site market which accounts for 75% of sales.
Soleil is raising its CY11 Docetaxel sales estimate from $155 million to $170 million and is raising its CY11 total sales from $4.096 billion to $4.11 billion. The firm is also raising its CY11 EPS estimate from $3.90 to $3.95. Its CY12 EPS and revenue estimates went from $4.35 and $4.32 billion to $4.40 and $4.33 billion.
The firm reports that its consultant is seeing generic Docetaxel priced at a 15-20% discount to other brands in the hospital market, which is well ahead of the Street's expectation of a 35-40% discount. Soleil's consultant notes that it does not expect a significant discount to the brand even in the alternate site market which accounts for 75% of sales.
Soleil is raising its CY11 Docetaxel sales estimate from $155 million to $170 million and is raising its CY11 total sales from $4.096 billion to $4.11 billion. The firm is also raising its CY11 EPS estimate from $3.90 to $3.95. Its CY12 EPS and revenue estimates went from $4.35 and $4.32 billion to $4.40 and $4.33 billion.
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