September 24, 2012 12:05 PM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
In a report published Monday, Bank of America Merrill Lynch reiterated its Neutral rating on Viropharma (NASDAQ: VPHM), and raised its price objective from $25.00 to $35.00.BofA Merrill Lynch noted, “In light of VPHM's 2015 financial targets, we are increasing our revenue/EPS estimates for 2013+ to reflect better European sales for two newer drugs, Buccolam and Plenadren. Our PO increases from $25 to $35 on these estimates, and additional upside is possible if VPHM's pipeline development is successful (maribavir for CMV interesting). Nonetheless, VPHM has a limited track record in Europe (initial EU Cinryze uptake has been extremely modest), and nearly all of our model changes are inter-dependent and driven by VPHM's EU performance expectations: (1) Plenadren sales of $200M implies EU market penetration of 10-30% in a market dominated by generics (see table 1), (2) profitability of EU business in 2014 is dependent on sales assumptions, (3) lower tax rate is predicated on EU-based products in lower tax jurisdictions. We view 2013 as a critical time for the launch trajectory to build confidence in these projections, but believe that management's ability to execute on its outlook could drive significant valuation upside over the next few years. We maintain our Neutral rating pending greater conviction in VPHM's outlook.”Viropharma closed on Friday at $30.31.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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