UPDATE: Piper Jaffray Upgrades Osiris Therapeutics to Overweight on Strong Biosurgery Growth
Piper Jaffray upgraded Osiris Therapeutics (NASDAQ: OSIR) from Neutral to Overweight and maintained a $11.50 price target.
Piper Jaffray commented, "Osiris is blowing the doors off Biosurgery sales: up 284% yr/yr and 36% sequentially to $2.9 million in 4Q:12 and totaling $7.8 million for 2012. We now forecast Biosurgery sales growth of 123% to $17.5 million this year. Based on this robust growth, we are upgrading Osiris to Overweight and maintaining our $11.50 price target. Keep in mind that Osiris regained full rights to Prochymal from Genzyme/Sanofi and is now free to sign a new global licensing partnership."
Osiris Therapeutics closed at $6.91 on Tuesday.
Latest Ratings for OSIR
|Sep 2014||RF Lafferty & Co.||Initiates Coverage on||Buy|
|Oct 2013||Piper Jaffray||Upgrades||Neutral||Overweight|
|Aug 2013||Piper Jaffray||Downgrades||Overweight||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.