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Fly News Breaks for July 28, 2015
AMGN, AEGR
Jul 28, 2015 | 07:34 EDT
Jefferies analyst Eun Yang upgraded Aegerion Pharmaceuticals (AEGR) to Buy from Hold saying negative sentiment is largely priced in at current share levels. Yang keeps a $26 price target for shares. The stock closed yesterday up 74c to $18.24. The new CEO hire could restore investor confidence and the shares, down 12% year-to-date, are pricing in potential impacts from Amgen's (AMGN) Repatha launch in Q3, Yang tells investors in a research note. The analyst views Aegerion's risk/reward as positively skewed, especially if the impact of PCSK9 inhibitors on Juxtapid sales turns out to be less than feared.
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