UPDATE: Jefferies Raises PT to $29 on Aegerion Pharmaceuticals on Juxtapid Approval Outlook
Jefferies reiterated its Buy rating on Aegerion Pharmaceuticals (NASDAQ: AEGR) and raised its price target from $24 to $29.
Jefferies commented, "Juxtapid (lomitapide) approval for HoFH is in-line (EU decision in mid-2013). AEGR is to provide details on its commercial plan (# of identified pts, WAC, etc) on Jan 7-10. Key to commercial success of Juxtapid is # of eligible pts; AEGR maintains ~3K U.S. pts. For FY13, our Juxtapid sales estimate is $13M (on FY basis, 40-60 treated pts on AEGR pricing range; vs. cons. $24M). Increasing our probabilityadjusted PT upon approval."
Aegerion Pharmaceuticals closed at $24.46 on Wednesday.
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