Piper Jaffray Reiterates Neutral Rating On Santarus (SNTS)

Piper Jaffray released a company note on Santarus Inc. (NASDAQ: SNTS) this morning after the company released earnings last night. SNTS reported 2Q10 EPS of $0.10 compared to analysts' consensus of $0.04. Revenues were $42 million compared to Wall Street expectations of $37 million.

The analysts wrote that "though SNTS has managed to remain profitable, the long-term growth trajectory of earnings is dependent on the success of pipeline products budesonide MMX and rifamyein SV MMX, both of which we believe have significant clinical, regulatory and commercial risks." The firm has a Neutral rating on the stock and $3.50 price target. During today's trading session, SNTS shares have jumped 3.86% to $2.69.