Leerink Swann Reiterates on Aegerion Pharmaceuticals as Weakness is Overdone

In a report published Tuesday, Leerink Swann analyst Joseph P. Schwartz reiterated an Outperform rating and $106.00 price target on Aegerion Pharmaceuticals (NASDAQ: AEGR).

In the report, Leerink Swann noted, “This afternoon we spoke with AEGR management who continued to highlight its confidence with the Juxtapid launch and its belief that its 2013 $45-$50MM revenue guidance is realistic. AEGR notes that updated guidance incorporates multiple unique aspects of 4Q including fewer selling days and the Holiday season, the latter of which could decrease sales incrementally since new patients may be less likely to initiate Juxtapid therapy and its concomitant diet around Thanksgiving and Christmas. We believe our recent survey, implies a very bullish long-term outlook for AEGR shares and suggests that the homozygous familial hypercholesterol (hoFH) phenotype may not be ultra-orphan but instead afflict a multiple of 10,000 patients in the US. Reiterate Outperform on AEGR and $106 price target in 12 months.”

Aegerion Pharmaceuticals closed on Monday at $74.74.