Analysts Bullish on Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR)

Several analysts have recently weighed in on Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR). Eun K. Yang of Jefferies upgrading their Buy rating on the stock on July 28, 2015 with a $26.00 price target, or 42.54% upside to the last closing price.

Phil Nadeau of Cown and Company also released a note august 06, 2015 reiterating the firms Buy stance on Aegerion.

“Aegerion reported total Q2 revenue of $64.1MM, in-line with the pre-announced range of $63-64MM. Juxtapid Q2 sales of $57.1MM (+59%Y/Y) were ahead of consensus ($53.1MME), though in-line with our $57.0MME. Sales in the U.S. accounted for 96% of Q2 revenue (vs. 84% in Q1), or $54.8MM (+14% Q/Q) vs. our $50.4MME. Management noted that sales growth in the U.S. was primarily driven by (1) An increase in the number of patients on therapy and (2) A higher average sales price. Recall that Juxtapid’s U.S. price was increased by 4.9% in mid-May. Ex- U.S. territories contributed only 4%, or $2.3MM, compared to 16%, or $9.2MM, in Q1. Juxtapid’s cumulative dropout rate continues to increase and stood at 49% on 7/31/15 vs. 46% on 4/24/15. While management was encouraged that the rate of increase in the dropout rate was somewhat less than prior quarters (typically +5%/Q), we suspect that the availability of PCSK9s in Q3 might reaccelerate it.”

Nadeau also added, “With ex-U.S. territories contributing only 4% of Q2 Juxtapid revenue, the international business clearly continues to struggle. Nonetheless, there are signs of incremental progress. Aegerion has received reimbursement approval in Italy, which should be effective in Q3:15. A reimbursement decision in the Netherlands is expected by YE:15. In France, following two sub-par reimbursement discussions, a hearing is expected to occur in Q3. In Japan, a regulatory submission is planned for late 2015/early 2016, with approval targeted for H2:16. Though Q2 Juxtapid sales were strong, management did not change its 2015 Juxtapid sales guidance of $195MM-$215MM as it noted the magnitude of disruption that will be caused by the PCSK9 launches is difficult to predict. Juxtapid sales in H1 were $114.3MM and therefore guidance implies H2 Juxtapid sales of only $81-$101MM, a 12-29% decline. Our 2015 Juxtapid estimate of $215MM remains unchanged, and assumes that H2 sales are down by 12% compared to H1. In prior checks the majority of our Juxtapid-prescribing consultants expect sales to decline following the PCSK9 launches. However, there was a very wide range in expectations for the magnitude of the decline, from <25% to >50%. Uncertainty around the magnitude of the disruption in new patient starts, as well as the impact of the PCSK9’s on Juxtapid discontinuations, makes it difficult to have visibility on Juxtapid’s post-Q3 demand trends.”

According to Maynard Um ranks 165 out of 3400 analysts and has an average one year return of 15.4% on the stocks he covers with a 69% success rate.

Another analyst at Dutch Bank has a Neutral stance on the stock. Robyn Karnauskas issued a note on July 27, 2015 with a Hold rating on the stock and $26.00 price target, or 48.57% upside to the last closing price.

“We estimate that 1H15 sales were approx. $123M, assuming no growth in 2H, we could see FY sales at $247M (above current guidance of $235M). However, given the potential slowing into 2H and that 1Q sales were positively impacted by an order of drug from Brazil ($7.4M), which can be irregular quarter to quarter, we are not upwardly revising our forecasts. We modeled $58M in 2Q sales and $238M for FY15.”

Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) is a biopharmaceutical company dedicated to the development and commercialization of innovative therapies for patients with debilitating rare diseases.

Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) Oct 07, 2015 a biopharmaceutical company dedicated to the development and commercialization of innovative therapies for patients with debilitating rare diseases, today announced that on October 1, 2015, Aegerion granted stock options to purchase an aggregate of 56,923 shares of common stock to 14 new employees under the inducement stock option program described below. Each stock option has an exercise price per share equal to $13.19, the closing price of Aegerion’s common stock on the grant date; vests 25% on the first anniversary of the date of grant with the remaining 75% to vest in monthly installments over the three years thereafter; has a ten year term; and is subject to the terms and conditions of Aegerion’s Inducement Award Stock Option Plan, and the terms and conditions of a stock option agreement covering the grant.

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