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Fly News Breaks for September 9, 2015
VVUS
Sep 9, 2015 | 18:16 EDT
RBC Capital analyst Simos Simeonidis views Icahn's involvement in VIVUS as a "very significant positive" given Icahn's track record with turning around biotech companies. The analyst notes that a past tactic of Icahn with biotech companies has been to force a sale to a larger company, and speculates that this could be a possibility with VIVUS. Simeonidis believes VIVUS is attractive at current levels due to Qsymia being the best branded obesity agent approved, and see the risk/reward in the stock as favorable. RBC Capital reiterates its Outperform, Speculative Risk rating on VIVUS. In trading Wednesday, VIVUS shares rose 12.5% to $1.35. After-hours, shares have continued to climb higher by another 4.5% to $1.41.
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