UPDATE: Oppenheimer Raises Target to $20 on Optimer Pharmaceuticals

Oppenheimer increases its target price $1 to $20 on Outperform-rated Optimer Pharmaceuticals OPTR on new Japan licensing deal. Oppenheimer says, "On 3/29, OPTR announced the formation of an exclusive collaboration and licensing agreement with Astellas Pharma to develop and commercialize DIFICID in Japan for the treatment of CDI (Clostridium difficile Infection). Per the agreement, OPTR is eligible to receive up to $90M (incl. $20M upfront) in milestones as well as double-digit royalties on Japanese sales." OPTR closed at $14 yesterday.