Avanir Pharmaceuticals Inc (NASDAQ:AVNR) Downgraded at Cowen

Avanir Pharmaceuticals Inc (NASDAQ:AVNR) has been downgraded to Market Perform at Cowen. The company is being acquired by Otsuka for $17 per share in cash.

Stock Analysis

In terms of market cap, Avanir Pharmaceuticals Inc (NASDAQ:AVNR)is now valued at 2.79billion. The company last reported earnings per share of -0.47 on December 8th. The company is expected to report earnings per share next year 51.70% less than this year.  The five year earnings per share estimate are at 19.20%.

In terms of ownership, company insiders have sold 3.75% of their stock over the past quarter while institutions have increased their positions by 27.62%.  As a whole, institutions own 84.00% of the total outstanding shares.

Analysts Perspective

Several analysts have recently issued updates on the company. One recent update included Mizuho upgraded the stock with a Buy rating starting with $10. Prior to that, Summer Street Research also weighed in on the stock.  Summer Street Research Reiterated their Buy stance on the company at the price of $16.  Analysts as a whole have a target price of $17.71 and a recommendation score of 1.70.

Company Profile

Avanir Pharmaceuticals, Inc., together with its subsidiaries, is engaged in acquiring, developing, and commercializing novel therapeutic products for the treatment of central nervous system disorders primarily in the United States. It primarily offers NUEDEXTA, a dual N-methyl-D-aspartate receptor antagonist and sigma-1 agonist for the treatment of pseudobulbar affect; and Docosanol 10% cream, an over-the-counter product for the treatment of cold sores. The company’s clinical development stage products comprise AVP-923, which has completed Phase II clinical trials for the treatment of central neuropathic pain in patients with multiple sclerosis; is in Phase II clinical trials for the treatment of agitation in patients with Alzheimer’s disease; and is in Phase II clinical trials for the treatment of levodopa-induced-dyskinesia in Parkinson’s disease, as well as completed Phase III trials for the treatment of patients with diabetic peripheral neuropathic pain. It is also developing AVP-786, a Phase I clinical trial novel investigational drug product for the treatment of neurologic and psychiatric disorders; and AVP-825, an investigational drug-device combination product, which is in Phase III clinical trials, to treat acute migraine. The company has a license agreement with Concert Pharmaceuticals, Inc. to develop and commercialize deuterium-modified dextromethorphan for the potential treatment of neurologic and psychiatric disorders, as well as rights to other deuterium-modified dextromethorphan compounds; and a license agreement with OptiNose AS for the development and commercialization of a novel breath powered intranasal delivery system to treat acute migraine. Avanir Pharmaceuticals, Inc. was founded in 1988 and is headquartered in Aliso Viejo, California.



Avanir Pharmaceuticals Inc (NASDAQ:AVNR) Downgraded at Cowen was last modified: December 15th, 2014 by Steven Finley

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