Value Microcaps Zip Code Changers

[stock_peeker]

08:17am VVUS (what a difference a day makes; $10 yesterday, $20 today, new target $45)

Vivus: Near unanimous AdComm is a significant step in the right direction for patients; target raised to $45 at JMP Securities.

JMP's view of the resounding vote of confidence (20-2 in favor) from yesterday's FDA Advisory Committee meeting provides it with high confidence ( > 90%) that Qnexa will be approved by the April 17th PDUFA date. Firm maintains its long-held view that a cardiovascular outcomes trial will be a post-approval requirement and it does not anticipate that REMS requirements will be significant hurdles to adoption. Firm is increasing its target from $16 to $45 to reflect a more positive outlook on commercial potential (establishing 2017e $1.97bil) and lowered regulatory risk (20% vs. 25% previously).
VVUS is trading higher in pre market at $21.76.