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Wedbush Securities Sees Preparations Continuing For Expected Approval And Strong Launch Of Kanuma For Synageva Biopharma

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In a report published Friday, Wedbush Securities analyst David M. Nierengarten reiterated an Outperform rating and $111.00 price target on Synageva Biopharma Corp. (NASDAQ: GEVA).

In the report, Wedbush Securities noted, "GEVA reported Q4:14 EPS of ($1.73), slightly below our estimate of ($1.67) and consensus of ($1.71). The company ended the quarter with $447M in cash and cash equivalents, not including proceeds from the recent follow-on offering of $309M, and guided towards 2015 total operating expenses of between $280M and $295M. We had previously estimated operating expenses to be approximately $240M, with the increase likely reflecting additional investment in Kanuma's launch later this year, in part by focusing on patient identification programs."

Synageva Biopharma closed on Thursday at $99.42.

Latest Ratings for GEVA

DateFirmActionFromTo
May 2015DowngradesOutperformNeutral
Mar 2015DowngradesOverweightNeutral
Feb 2015MaintainsNeutral

View More Analyst Ratings for GEVA
View the Latest Analyst Ratings

Posted-In: David M. Nierengarten Wedbush SecuritiesAnalyst Color Reiteration Analyst Ratings

 

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