ViroPharma Shares Offer a Buying Opportunity at Current Levels, Piper Jaffray Reports

Piper Jaffray spent the day marketing with ViroPharma Inc. VPHM management and “walked away with increased conviction that VPHM shares offer a buying opportunity at current levels regardless of the timing of expected generic competition for Vancocin.” “We see upside to Cinryze in the U.S. and following recent European approval. Further pipeline products Buccolam and VP20621 leverage existing infrastructure and could contribute meaningfully to cash flow. Lastly ViroPharma intends to use its strong balance sheet to repurchase shares and acquire new growth opportunities. “We reiterate our Overweight rating and $23 price target.” ViroPharma closed Wednesday at $17.91.