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VIVUS Inc. Message Board

  • basehit123 basehit123 Apr 3, 2014 1:07 PM Flag

    Piper Jaffray Downgrades VIVUS Inc to Underweight 4/3/14


    n a report published today, Piper Jaffray downgraded shares of VIVUS Inc (VVUS) to Underweight from Neutral and lowered the price target to $3.00 from $8.00

    “Although we continue to believe the U.S. anti-obesity market outlook is improving due to updated professional guidelines and accumulating evidence for long-term pharmacoeconomic benefit from treating obesity, these macro-dynamics have not yet appreciably translated to significant gains into Qsymia’s prescription and sales trends, IN OUR VIEW” Piper Jaffray said in a note to clients

    “Given that now nearly three full quarters have transpired post proxy battle and management changes, we have grown increasingly wary on the outlook for Qsymia due to: 1) current prescription trends; 2) delays in signing a U.S. marketing partner; and 3) an expected Contrave launch in 2H14. Based on our updated view of increased execution risk, we are reducing our out-year Qsymia revenue projections and also increasing our discount rate to 20% (from 15%)” it added.

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