Oppenheimer Reiterates Outperform Rating, $20 PT for Optimer Pharmaceuticals
In a quarterly update published earlier today, Oppenheimer Holdings reiterated its Outperform rating and $20.00 for Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR).
Oppenheimer said in its report “On 5/10, OPTR reported 1Q12 EPS of ($0.23), above our ($0.25) estimate owing to $23.8M gain due to the deconsolidation of OBI, Optimer's Taiwanese subsidiary. Notably, DIFICID revenues of $14.4M were slightly ahead of our $14.1M estimate (recall OPTR pre-reported gross revenues of $16.5M). We continue to believe the DIFICID launch trajectory remains strong and highlight that the reorder rate of 71% (vs. 65% in 4Q11) from targeted hospitals is encouraging. Importantly, we continue to anticipate limited impact to DIFICID revenues from the recent introduction of generic Vancocin as a de-facto version (vancomycin slurry) was already present in the market.”
Optimer Pharmaceuticals, Inc. closed yesterday at $14.80.
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