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UPDATE: Piper Jaffray Initiates Omthera Pharmaceuticals with Overweight on Good Epanova Potential

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UPDATE: Stifel Nicolaus Terminates Coverage on Omthera Pharmaceuticals Following Acquisition by AstraZeneca
Benzinga's M&A Chatter for Tuesday May 28, 2013

In a report published Tuesday, Piper Jaffray analyst Edward A. Tenthoff initiated coverage on Omthera Pharmaceuticals (NASDAQ: OMTH) with an Overweight rating and $15.00 price target.

In the report, Tenthoff noted, “Omthera is developing Epanova, an ultra-pure mixture of the omega-3 fish oils EPA and DHA. Omthera has completed 2 Phase III trials, ESPRIT and EVOLVE, demonstrating statistically significant reductions in triglycerides and non-HDL cholesterol. Omthera is preparing to file a New Drug Application (NDA) with the FDA this summer and Epanova could be approved in mid'14. Epanova has clear benefits over the competition including GlaxoSmithKline's blockbuster Lovaza and Amarin's (AMRN) recently-launched Vascepa. Importantly, Epanova has patent protection that runs at least through 2025. Omthera may seek a partner in order to conduct large outcome trials in order to maximize the long-term value of Epanova.”

Omthera Pharmaceuticals closed on Monday at $7.21.

Latest Ratings for OMTH

May 2013Leerink SwannDowngradesOutperformMarket Perform
May 2013Stifel NicolausDowngradesBuyHold
May 2013PiperJaffrayDowngradesOverweightNeutral

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Posted-In: Piper JaffrayAnalyst Color Initiation Analyst Ratings


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