UPDATE: Jefferies Raises PT to $40 on Aegerion Pharmaceuticals on Strong Juxtapid Start

Jefferies maintained Aegerion Pharmaceuticals AEGR with a Buy rating and raised the price target from $29.00 to $40.00. Jefferies commented, "Wider 4Q12 loss of $22M on higher OpEx (vs. our estimate). To date 85 NRx written for Juxtapid (translating into $2M in sales once shipped, ~3-4 months following written Rx). AEGR is confident 250-300 pts on therapy by YE13 and cash flow breakeven in 2H14 at ~$100M revenue runrate (vs. our estimate of 1H15). Potential near-term risk includes failure to gain EU approval (decision in ~mid-2013) or narrower label (vs. U.S.)." Aegerion Pharmaceuticals closed at $34.47 on Tuesday.