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According to a research report published earlier today, Wedbush has increased NuPathe Inc.'s
PATH PT from $17 to $18.
In the report, Wedbush commented, “We see PATH potentially doubling or more in 2012 and reiterate our Outperform rating and are increasing our fair value to $18 for time value. With potential approval by year-end 2012 and PATH having a lead asset which could reach peak sales of $300 million or more, we believe the stock is an attractive buying opportunity. We calculate PATH's fair value based on a 30% annual discount and a 1x-10x premium range on our net peak annual sales estimate for each product and indication in the clinic to reflect risk.”
NuPathe is currently trading at $4.13.
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