Canaccord Genuity Reiterates Buy on Avanir as Drug Sales Ramp
November 28, 2012 2:23 PM EST
Canaccord Genuity maintained a Buy on Avanir Pharmaceuticals with a price target of $6.00 after the company reported drug sales that beat estimates. Nuedexta gross sales came in a $15.4 million, beating consensus views of $14.8 million.
Commenting on the developments, analysts Ritu Baral said, "Recent sales trends continue to appear steady, and we foresee continued sales ramp in 2013."
Canaccord Genuity's $6 target on Avanir Pharmaceuticals is based on a sum-of- the-parts analysis.