This past week we saw Orexigen (OREX) receive a positive panel vote for its obesity drug, Contrave. How did the analysts adjust their models with respect to this event? Vivus (VVUS), seeking approval of the competitor obesity drug Qnexa, saw a significant spike on the news. Do Wall Street’s analysts believe this was justified?
Here is an update of analyst positions on OREX and VVUS from the past week, along with updates on companies with significant binary events in the near future.
Orexigen (OREX) -
12/9 – Leerink Swann maintains outperform.
12/9 – Canaccord Genuity maintains buy, price target raised to $19.00, from $14.00.
12/9 – JMP Securites maintains market outperform, price target raised to $18.00, from $13.00.
12/8 – JPMorgan maintains overweight, price target raised to $16.00, from $8.00.
12/8 – Jefferies maintains buy, price target raised to $17.00, from $12.00.
12/8 – Rodman & Renshaw maintains market underperform, price target raised to $5.00, from $2.00.
12/8 – Cowen maintains outperform.
12/8 – Lazard maintains hold.
VVUS (VVUS) -
12/10 – Jefferies maintains underperform, price target raised to $4.00, from $3.00.
12/10 – Wells Fargo Securities maintains market perform.
12/9 – Roth Capital maintains buy, price target unchanged at $12.00.
12/8 – JPMorgan maintains overweight, price target unchanged at $13.00.
12/8 – Needham & Co. maintains buy, price target unchanged at $15.00.
12/8 – Canaccord Genuity maintains buy, price target unchanged at $15.00.
12/8 – Cowen maintains nuetral.
12/8 – JMP Securites maintains market outperform, price target unchanged at $16.00.
12/8 – McNicoll Lewis & Vlak maintains buy, price target raised to $16.00, from $11.00.
Clinical Data (CLDA) –
12/8 – McNicoll Lewis & Vlak maintains buy, price target unchanged at $37.00.
Protalix (PLX) -
12/9 – Wells Fargo Securities initiates at outperform.
MannKind (MNKD) -
12/10 – Wells Fargo Securities maintains outperform.
Alimera (ALIM) -
12/9 – Credit Suisse maintains outperform, price target of $16.00.
