Market Overview

UPDATE: Bank of America Downgrades Optimer Pharmaceuticals to Underperform on Outlook

Related OPTR
HSR Waiting Period Expires for Cubist, Optimer Deal
Cubist Pharma Reports Pricing of $700M in Convertible Senior Notes, Expecting Proceeds of $679M

Bank of America lowered its rating on Optimer Pharmaceuticals (NASDAQ: OPTR) from Buy to Underperform and reduced its price objective from $18 to $15.

Bank of America commented, "Lowering peak penetration estimates following a slowdown in Dificid script trends and feedback from the recent ICAAC conference, we have a more cautious outlook for Dificid in Clostridium difficile infections (CDI). We lowered our projected peak penetration in hospitals from 25% to 20%, in line with our estimate for LTC facilities, which may still be aggressive. The recent new technology add-on payment assigned to Dificid by CMS could encourage more hospital use, but is not enough to offset our current concerns."

Optimer Pharmaceuticals closed at $15.75 on Monday.

Latest Ratings for OPTR

DateFirmActionFromTo
Jul 2013Canaccord GenuityDowngradesBuyHold
Jul 2013JefferiesDowngradesBuyHold
May 2013NeedhamDowngradesBuyHold

View More Analyst Ratings for OPTR
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (OPTR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters