Canaccord Genuity Reiterates a 'Buy' on Avanir Pharmaceuticals (AVNR); Nuedexta Survey: Positive Dx and Prescribing Trends Suggest Continued Growth
November 30, 2011 8:54 AM EST
Canaccord Genuity reiterates a 'Buy' on Avanir Pharmaceuticals (NASDAQ: AVNR) price target of $6.00.
Canaccord analyst, Ritu Baral, said, "Reiterate rating and price target on Nuedexta steady growth, ultimate commercial potential. Nuedexta is AVNR’s drug for pseudobulbar affect, emotional lability seen with stroke, traumatic brain injury and other neurodegenerative disorders. Launch has been modest but steady, and we see new positive trends in long-term care use. We estimate peak annual sales of $350M US and $300M EU."