UPDATE: JP Morgan Cuts PT to $22 on VIVUS Following Q4 Report
JP Morgan maintained VIVUS (NASDAQ: VVUS) with an Overweight rating and lowered the price target from $25.00 to $22.00.
JP Morgan commented, "We are maintaining our OW rating on VVUS following yesterday's 4Q report. Updated launch metrics for the obesity drug Qsymia were generally inline with our expectations, and the bottom line is that nothing really changed our overall view. At this stage VVUS is a waiting game. Our prevailing stance is that accessibility (modifying the REMS and improving the reimbursement landscape) and patient/physician experience (through Feb 15, Qsymia had been prescribed to >27K unique pts and the prescriber base is now up to almost 12K providers) will be key to building this market. While we're still optimistic this can and will all come together, we anticipate the jury could remain out until more clear cut evidence is available."
VIVUS closed at $12.41 on Monday.
Latest Ratings for VVUS
|Nov 2014||Bank of America||Maintains||Underperform|
|May 2014||JP Morgan||Maintains||Neutral|
|Apr 2014||Piper Jaffray||Downgrades||Neutral||Underweight|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.