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Aegerion Shares Remain Undervalued Given The Significant Market Opportunity, Says Janney Capital

In a research report released yesterday, Janney Capital analyst Kimberly Lee reiterated a Buy rating on Aegerion Pharmaceuticals (AEGR) on the heels of the company’s recent 2Q14 earnings report. No price target was assigned.

Lee wrote, “Aegerion posted Juxtapid sales of $36.0 million, above our $35.8 million estimate and consensus of $35.4 million, based on growth in the US market. A 5.9% price increase on June 1st also likely contributed to better-than-expected sales. The company maintained its prior revenue guidance but expects sales to be toward the lower end of the range. This would still imply significant growth acceleration in 2H to meet the $180 million target (our estimate $177.5 million; consensus $173.1 million). Management remains confident in its guidance because of uptick in new prescribers and strong demand in the US and Brazil. We maintain that AEGR shares remain undervalued given the significant market opportunity in HoFH and expect shares to bounce back given today’s news”.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform analyst Kimberly Lee has a 6.7% average return and a 52.2% success rate. Lee has a 12.6% average return when recommending AEGR, and is ranked #1150 out of 3190 analysts.

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