UPDATE: Ladenburg Thalmann Reiterates Buy Rating, Raises PT for Furiex Pharmaceuticals

In a company update published earlier today, Ladenburg Thalmann Financial Services reiterated its Buy rating for Furiex Pharmaceuticals, Inc. (NASDAQ: FURX) and raised its price target from $28.00 to $33.00.

Ladenburg Thalmann went on to say “To be conservative, we have increased our peak sales estimate in Japan to $600 million for 2016 and we have left our estimate for the U.S. market unchanged (we will revisit our U.S. estimate when there is additional clarity with respect to the timing for U.S. approval). Based on our revised Nesina estimate in Japan, we increase our FURX price target to $33 from $28. We recommend investors take advantage of the current weakness in FURX to purchase the stock.”

Furiex Pharmaceuticals, Inc. closed yesterday at $13.66.