Credit Suisse Raises Q2 Imbruvica Sales Forecast For Pharmacyclics

In a report published Monday, Credit Suisse analyst Jason Kantor reiterated an Outperform rating and $121.00 price target on

. In the report, Credit Suisse noted, “We are raising our Q2 US Imbruvica sales forecast to $94M from $80M, based on recent IMS prescription and sales trends (now above the $80M guidance for Q2:14). Our full year sales estimate increases to $362M from $330M, and our 2014 EPS increases to $0.65 from $0.52. We expect PCYC will raise its overly conservative Imbruvica guidance.” Pharmacyclics closed on Friday at $88.48.