Wedbush Has Outperform On Gentium (GENT)

Wedbush has an Outperform rating and a $16 price target on shares of Gentium S.p.A. (NASDAQ: GENT).

In a note to clients, Wedbush writes, "We derive our fair value estimate by applying a 6x multiple to 2012 defibrotide sales, combined with an 15X multiple on 2012 US royalty income, discounted 25% annually. We use an exchange rate of $1.38: €1."

Shares of GENT lost 11 cents yesterday to close at $10.09, a loss of 1.08%.