UPDATE: Jefferies & Company Reiterates Underperform Rating, Lowers PT on VIVUS
In a report published Wednesday, Jefferies & Company reiterated its Underperform rating on VIVUS (NASDAQ: VVUS), but lowered its price target from $13.00 to $6.00.
Jefferies noted, “VVUS disclosed shipped prescriptions of Qsymia on its 3Q12 earnings call. Actual demand is tracking 30% below IMS data, a surprise given our recent discussions with IMS on the tracking of Qsymia data. As a result, we are lowering our Qsymia estimates to reflect a linear extrapolation of recent demand trends and we are lowering our PT from $13 to $6.”
VIVUS closed on Tuesday at $11.82.
Latest Ratings for VVUS
|May 2014||JP Morgan||Maintains||Neutral|
|Apr 2014||Piper Jaffray||Downgrades||Neutral||Underweight|
|Feb 2014||Bank of America||Downgrades||Neutral||Underperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.