UPDATE: Canaccord Genuity Reiterates Buy Rating, Raises PT on Aegerion Pharmaceuticals

In a report published Wednesday, Canaccord Genuity reiterated its Buy rating on Aegerion Pharmaceuticals

, and raised its price target from $27.00 to $36.00. Canaccord Genuity noted, “AEGR announced additional Juxtapid launch color, with the key takeaways being the $235K/$295K U.S. annual pricing (vs. our $250K estimate) for initiation/maintenance, respectively, and that >1,500 patients have been identified worldwide to date through the registry. As a result, we believe AEGR's goal of 250-300 patients on drug by YE13 and $15M - $25M FY13 revenue guidance (we model for $22M) could prove conservative. We have adjusted our model to account for the higher pricing and a slower 2013 ramp but increased revenue in 2014+.” Aegerion Pharmaceuticals closed on Tuesday at $25.76.