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.
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