Canaccord Reiterates Buy, $6 PT on Avanir Pharmaceuticals

Canaccord maintains its Buy rating and $6 price target on Avanir Pharmaceuticals AVNR as Nuedexta survey suggests positive Dx and prescribing trends that could drive growth. Canaccord says, “We see positive prescribing trends, expect continued Rx growth from our recent Nuedexta survey of neurologists, physical medicine and rehabilitation (PM&R) physicians and psychiatrists. Surveyed physicians (n=60) estimate they currently only treat 10% of their PBA patients with Nuedexta but expect this rate to increase to 40% within three years.” AVNR closed at $2.29 per share on Tuesday.