UPDATE: Canaccord Genuity Raises PT to $44 on Aegerion Pharmaceuticals on Encouraging Sales Data

Canaccord Genuity maintained Aegerion Pharmaceuticals

with a Buy rating and raised the price target from $36.00 to $44.00. Canaccord Genuity commented, "On the Q4 EPS call, AEGR provided metrics on the first six weeks of the Juxtapid launch in HoFH. The key takeaway was 400+ vs. 1800-targeted U.S. physicians have been REMS-trained (expected to translate into scripts 1-8 weeks post) and have written 85 new scripts globally (“vast majority” in the U.S. – Brazil and Turkey may be active on a named-patient basis). Given the strong early launch progress, we question whether guidance of 250-300 patients on drug exiting 2013 and $15M-25M in 2013 revenue is conservative." Aegerion Pharmaceuticals closed at $36.12 on Wednesday.