Zacks Investment Research upgraded shares of Aegerion Pharmaceuticals Inc. (NASDAQ:AEGR) from a hold rating to a buy rating in a research note released on Monday. They currently have $2.00 price target on the biopharmaceutical company’s stock.
According to Zacks, “Aegerion’s third-quarter results were encouraging, with the company reporting a narrower-than-expected loss and revenues surpassing expectations. Aegerion’s upcoming merger agreement with QLT Inc. is a big positive. It will leverage the company’s development and commercial capabilities to provide transformative treatments to patients suffering from rare but debilitating diseases. The agreement comes at a time when the company's lead drug, Juxtapid, is facing challenges due to the launch of PCSK9 inhibitors in the U.S. The company added another drug, Myalept from AstraZeneca, which boosted its portfolio. However, Aegerion is facing reimbursement hurdles for Myalept as prior authorizations are taking longer than expected and payers are requesting additional data. Moreover, the decision to withdraw Juxtapid from the EU is disappointing.”
Separately, JPMorgan Chase & Co. began coverage on Aegerion Pharmaceuticals in a report on Friday, November 11th. They set a hold rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $10.20.
Shares of Aegerion Pharmaceuticals (NASDAQ:AEGR) opened at 1.90 on Monday. Aegerion Pharmaceuticals has a one year low of $1.23 and a one year high of $10.85. The stock’s market capitalization is $56.14 million. The firm’s 50-day moving average price is $2.01 and its 200-day moving average price is $1.82.
In other news, major shareholder Healthcare Master Fun Broadfin acquired 276,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was bought at an average cost of $1.66 per share, with a total value of $458,160.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 4.60% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Scopia Capital Management LP bought a new position in shares of Aegerion Pharmaceuticals during the third quarter valued at approximately $16,940,000. FNY Managed Accounts LLC boosted its position in shares of Aegerion Pharmaceuticals by 142.0% in the third quarter. FNY Managed Accounts LLC now owns 49,372 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 28,972 shares during the last quarter. Sarissa Capital Management LP boosted its position in shares of Aegerion Pharmaceuticals by 2.7% in the second quarter. Sarissa Capital Management LP now owns 2,649,000 shares of the biopharmaceutical company’s stock valued at $3,947,000 after buying an additional 69,000 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Aegerion Pharmaceuticals during the second quarter valued at approximately $142,000. Finally, Jefferies Group LLC boosted its position in shares of Aegerion Pharmaceuticals by 149.9% in the second quarter. Jefferies Group LLC now owns 745,150 shares of the biopharmaceutical company’s stock valued at $1,110,000 after buying an additional 447,027 shares during the last quarter. 85.83% of the stock is owned by institutional investors.
Aegerion Pharmaceuticals Company Profile
Aegerion Pharmaceuticals, Inc is a biopharmaceutical company engaged in the development and commercialization of therapies for patients with debilitating rare diseases. It operates through pharmaceuticals segment. Its products include lomitapide and metreleptin. Lomitapide is a small molecule microsomal triglyceride transfer protein (MTP) inhibitor.