What the hell, I'll jump into the fray. Don't own any CEPH, but I'm watchin it for the bottom and may jump in yet for a little bit.
Some analysts comments on CEPH I received today. Take your pick, there is support for both sides of the argument:
Robertson, Stephens analyst Mark Simon advised investors to buy CEPH on weakness following a negative FDA advisory panel review of Myotrophin IGF-1 for ALS. The main driver of the stock price will be Provigil modafinil for narcolepsy, which he expects to receive an FDA panel meeting in the second half of this year.
Genesis Merchant Group analyst Paul Boni said CEPH is worth $27 even without Myotrophin, based on $6 a share in cash, $17 for Provigil and the rest of the pipeline.
UBS Securities analyst Tim Wilson said the company is worth $16 a share without Myotrophin. He believes the FDA still could approve Myotrophin if the agency decides the potential rewards to patients outweigh the risks, particularly given pressure from doctors and patients for approval.
Cowen & Co. analyst Joyce Lonergan lowered her rating to "buy" from "strong buy", and said that CEPH is worth $20 even without Myotrophin.
Oppenheimer & Co. analyst Matt Geller said that the panel's decision represented a triumph of data over politics. He noted that there was no compelling explanation from CEPH as to why its European study was less successful than the US study given the similar design of the trials. Nor did blood levels of Myotrophin in the US trials correlate with the outcomes, he added. |
