Cowen Cuts Price Target on Aegerion Pharma (AEGR) Following 3Q Results

Cowen maintained a Market Perform rating on Aegerion Pharmaceuticals (NASDAQ: AEGR), and cut the price target to $15.00 (from $25.00), following the company's 3Q earnings report. Juxtapid sales were $58.8MM, ahead of consensus of $54MM. Myalept revenue of $8.5MM was ahead of consensus of $6.3MM.

Analyst Phil Nadeau commented, "AEGR reported solid Q3 financials with Juxtapid ($59MM vs. $54MME) and Myalept ($8.5MM vs. $6.3MME) ahead of consensus. However, Juxtapid U.S. sales declined Q/ Q and management cautioned the impact of the PCSK9's on Juxtapid has yet to be fully felt. Revised '15 Juxtapid guidance suggests a large decline during Q4. We remain on the sidelines pending better visibility into future Juxtapid trends."

For an analyst ratings summary and ratings history on Aegerion Pharmaceuticals click here. For more ratings news on Aegerion Pharmaceuticals click here.

Shares of Aegerion Pharmaceuticals closed at $13.12 yesterday.

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