VIVUS (VVUS) Is Today's Top Performing Wall Street Upgrade
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Price: $0.47 --0%
Rating Summary:
3 Buy, 6 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 24 | New: 9
Rating Summary:
3 Buy, 6 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 24 | New: 9
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With a 5 percent upside move, VIVUS Inc. (Nasdaq: VVUS) is the top performing Wall Street upgrade today, according to data tracked at StreetInsider.com's Ratings Central.
Canaccord Genuity upgraded shares of the obesity drug maker from Hold to Buy following data from the SEQUEL study which strengthens the case for Qnexa approval.
The firm also lifted their price target from $6 to $10, which still represents 43 percent upside from current levels.
"There is a high likelihood that the FDA will approve VVUS' obesity drug Qnexa based on the overall risk/benefit profile of the drug (supported by yesterday’s two-year study results)," according to Canaccord Genuity analyst Adam Cutler. "While we think a delay beyond the Oct. 28 PDUFA date is very possible, we believe that approval in H1/11 would drive significant upside in the stock."
Canaccord Genuity upgraded shares of the obesity drug maker from Hold to Buy following data from the SEQUEL study which strengthens the case for Qnexa approval.
The firm also lifted their price target from $6 to $10, which still represents 43 percent upside from current levels.
"There is a high likelihood that the FDA will approve VVUS' obesity drug Qnexa based on the overall risk/benefit profile of the drug (supported by yesterday’s two-year study results)," according to Canaccord Genuity analyst Adam Cutler. "While we think a delay beyond the Oct. 28 PDUFA date is very possible, we believe that approval in H1/11 would drive significant upside in the stock."
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