Vivus Weighs In As a Leader for Diet Pills, Cowen Upgrades and Raises PT
Cowen and Company analyst Simos Simeonidis upgraded Vivus (NASDAQ: VVUS) from market perform to outperform and raised the PT from $13.50 to $19.
Simeonidis reported that the risk/ reward associated with Vivus “appears compelling” as management changes and retail availability of Qsymia suggest a “significant upside” from current price levels. The diet pill Qsymia is a market leader supplying 60% of the obesity market.
In the note, the analyst rates Arena Pharmaceuticals (NASDAQ: ARNA) as new market perform with a PT of $4.50. Simeonidis also initiated Orexigen Therapeutics (NASDAQ: OREX) with an outperform rating and PT of $10.
Vivus closed at $10.19 on Wednesday.
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