Brean Murray Carret Initiates Buy, $37 PT on ViroPharma
Brean Murray Carret initiates a Buy rating and a price target of $37 on ViroPharma (NASDAQ: VPHM) as it believes the company's orphan drug has growth potential.
Brean Murray Carret notes that upgrade is "based primarily on the strength of the orphan drug, Cinryze. The company has successfully changed investor focus from controversy over the lifecycle of its antibiotic, Vancocin, to a focus in Cinryze, an orphan drug for hereditary angioedema (HAE). We believe the extension of the Vancocin monopoly until at least 2014 will provide Viropharma with considerable cash flow over the next few years, as Cinryze revenues contribute to build momentum."
VPHM closed at $27.88 per share on Wednesday.
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