Oppenheimer Reiterates Outperform Rating, $12 PT on Trius Therapeutics on 4Q12 EPS
In a report published Wednesday, Oppenheimer analyst Angad Verma reiterated his Outperform rating and $12.00 price target on Trius Therapeutics (NASDAQ: TSRX).
In the report, Verma noted, “On 3/12, TSRX reported 4Q12 EPS of ($0.36), above our ($0.54) forecast, owing to higher revenues of $5.2M (vs. our $2.9M estimate) and lower operating expenses of $21.1 (vs. our $24.2M estimate). Most important, we anticipate an imminent top-line readout, likely by the end of March, from Tedizolid's phase III ESTABLISH-2 study and a subsequent NDA filing during 2H13 (suggesting potential approval in 1H14). We believe TSRX will initiate a Phase III study in lung infections in 2H13 (we previously expected 1H13), suggesting potential approval in the lung in ~2016. We are adjusting, estimates to reflect revised operating expense expectations.”
Trius Therapeutics closed on Tuesday at $6.21.
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