My Broker just called me and told me to buy this stock. He says that JPM & MS had valuated this stock to $27 in 2007. With the Drug being approved, they should come back with Similar or higher estimates. Does anyone know about this $27 per share valuation?
In a note to clients, Natixis Bleichroeder analyst Corey Davis said the decision was "one of the most surprising moves we've seen out of the FDA this year." He said Fanapt should have patent protection until 2016 or 2017, and doctors may be willing to switch patients on other drugs over to Fanapt.
He also wrote that Fanapt "arguably has one of the most benign safety profiles of all the (atypical antipsychotic drugs) out there," comparing it treatments like risperidone. Davis upgraded Vanda stock to "buy" from "hold," and lifted his price target to $12 per share from $1.
The boyz are busy trying to walk it down on 100 share trades and collecting shares. Coverage will not be coming until they have sizeable postions. Considering volume being traded they boyz could have a nice position and reinstate coverage next week.
$27, was discounted price w/o approval. Analyst ramp up targets after a drug is approved.