Santarus spikes on coverage

July 8, 2013

Shares of the specialty drugmaker surged 7% to a new closing high of 23.49 after JMP Securities started coverage with an outperform rating. A JMP analyst cited the potential of Ruconest, saying he expects the FDA to OK the drug for hereditary angioedema in early '14. He also thinks Ruconest, which is a biologic drug, will be much more difficult to copy as a generic version, unlike Santarus' (SNTS) successful bowel-disease drug Uceris.