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UPDATE: Canaccord Genuity Downgrades Optimer Pharmaceuticals Following Merger Proposal

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In a report published Wednesday, Canaccord Genuity analyst Ritu Baral downgraded Optimer Pharmaceuticals (NASDAQ: OPTR) from Buy to Hold, and lowered the price target from $22.00 to $13.00.

In the report, Canaccord Genuity noted, “Lowering to HOLD, $13 target on the expectation of proposed merger to close and a payout event to be triggered in 2015 tied to strong Dificid performance. We think the superior clinical profile, strong pharmacoeconomics, and integrated SG&A synergy for Dificid will drive solid uptake, despite premium pricing. Our $13 target is derived from a pNPV sum-of-the-parts analysis based on varying payout scenarios.”

Optimer Pharmaceuticals closed on Tuesday at $13.29.

Latest Ratings for OPTR

DateFirmActionFromTo
Jul 2013JefferiesDowngradesBuyHold
Jul 2013Canaccord GenuityDowngradesBuyHold
May 2013BairdDowngradesOutperformNeutral

View More Analyst Ratings for OPTR
View the Latest Analyst Ratings

 

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Posted-In: Canaccord Genuity Ritu BaralAnalyst Color Downgrades Analyst Ratings

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