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18-Jul-05
08:48 VPHM ViroPharma target upped to $15 from $7 at Piper Jaffray (9.87 )

"Piper Jaffray raises their target to $15 from $7, saying that prior to 2Q results they are taking this opportunity to revise estimates. Firm notes they had previously used a "worst-case" scenario, but given the recent appreciation in the stock, they believe that publication of a more realistic Vancocin sales and expense trajectory may help investors better understand the potential valuation upside from current levels. Firm raises their Vancocin sales estimates to $29.3m from $24.0m in 2Q05, to $102.3m from $79.7m in 2005, to $125.5m from $87.9m in 2006, and to $139.8m from $100.0m in 2007. Firm changes their EPS ests to $0.05 from $0.15 in 2Q05, to $0.48 from $0.24 in 2005, and to $0.68 from $0.25 in 2006. Reits Outperform."