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12:00 AM
Jul 21, 2008
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 7/18 cls
Alpharma (NYSE:ALO) Leerink Gary Nachman New Market outperform 7% $24.51
Nachman set a target in the low $30s. He expects Flector Patch sales to increase to $260M by 2013 from $114M in 2008. Alpharma licensed exclusive U.S. rights to distribute the topical NSAID to treat acute pain due to minor strains, sprains and contusions from Institut Biochimique in 2007. Nachman also thinks sales of Alpharma’s Embeda, which he said is the only abuse-deterrent morphine product he’s identified, will increase to $435M in 2013 from $187M in 2009. The company resubmitted an NDA for the extended-release morphine capsules to treat chronic pain this month (see BioCentury, July 7).
BioMarin (NASDAQ:BMRN; SWX:BMRN) Roth Capital Partners Andrew Vaino Price target Hold 11% $30.17
Vaino raised his target to $28 from $27 and raised his FY09 EPS estimate to $1.20 from $1.17 after Daiichi Sankyo (Tokyo:4568; Osaka:4568) received Japanese approval to extend the label for Biopten sapropterin to treat tetrahydrobiopterin (BH4)-responsive hyperphenylalaninemia (HPA) (see B9). The approval triggered a $1.5M milestone to BioMarin, which granted Daiichi Sankyo exclusive Japanese rights (see BioCentury, Sept. 24, 2007). Vaino also raised his FY08 and FY09 revenue estimates to $301.8M and $428M from $299M and $424M.
Corcept (NASDAQ:CORT) Rodman Raghuram Selvaraju New Market outperform 12% $2.17
Selvaraju set an $8 target. He thinks Corlux mifepristone, a progesterone and cortisol receptor antagonist, will be approved in 2010 for Cushing’s...

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