Their recent presentation at the Wedbush Securities Life Sciences Best Ideas Management Access Conference on Tuesday, August 3rd highlighted some great points investors should remember about Avanir Inc(NASDAQ:AVNR) and why it could be a great play for October. Wedbush currently has AVNR rated as "Outperform" and placed a $9 target price on them. Wedbush has had some updates regarding their coverage of AVNR.
Specifically, AVNR is their top small-cap pick in 2010. They have a great combo of a small-cap biotech with a pending FDA approval for a product with significant market opportunity. Zenvia is wholly-owned by AVNR and they have every intention of marketing it to the maximum degree.
The significant market opportunity really sets AVNR apart from the biotech crowd. Zenvia in other indications outside of PBA will be for 2 types of neuropathic pain. Those are diabetic peripheral neuropathic pain, pain secondary to MS and agitation secondary to dementia or Parkinson's related dyskinesia. These are all very large markets that have an unmet medical need.
Wedbush has compared the opportunity for AVNR to investors with Acorda in 2005. Both had similar market-caps and potential. Acorda now has a market-cap of $1.5 billion.
Also, investors should be aware that AVNR has a conference call before market open on Thursday, August 5, 2010. It will be releasing unaudited fiscal third quarter financial results for the three and nine months ended June 30, 2010
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