AVNR - Analyst comments on Nuedexta approval--Price target $15
Is this an fair opinion from the Streetinsiders.com?? Anyone know Andrew Fein? Is he just a pump and dump artist??
Any experts in here has any comments? Thanks!
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Shares of Avanir Pharmaceuticals (Nasdaq: AVNR) have more than doubled today to $5 per share, following FDA approval of Nuedexta for pseudobulbar affect, but according to one analystthey could still triple yet.
Jefferies analyst Andrew Fein, who correctly had a 'Buy' rating going into the FDA decision, raised his price target today on Avanir from $10 to $15.
Fein said the labeling on the drug is broad, with no black box warning. Moreover, Avanir "will now be viewed as warranting scarcity value as larger companies seek approved neurology assets," Fein notes.
On the broad label, Fein notes that no black box warning "gives Nuedexta no restrictions in its target patient population." In addition, "off-label usage in a broader patient pool is likely."
Nuedexta will be launched in the first quarter of 2011.
Shares of Avanir are up 108 percent currently to $5.03.
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