Jefferies Has Buy on Optimer Pharmaceutical

Jefferies & Co. is out with a research report on Optimer Pharm. OPTR and it has a Buy rating and a $17 price target on shares. In a note to clients, Jefferies & Co. writes, "Given much better-than-expected DIFICID sales in its early launch cycle (U.S. launch on 7/18/11), upcoming EU approval and launch by partner Astellas could also provide apotential upside surprise. While EU approval is widely expected (so was FDA approval), potential milestones of ~$68M from Astellas upon approval and first launch in Europe would strengthen its cash position (sufficient until our projected profitability in 2014)." Shares of OPTR are up 93 cents to $14.97 today.