Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) shares have suddenly become bullish after it was annouced that Guggenheim upgraded the stock from a “Sell” to a “Buy”, while also increasing its price target from $7.00 all the way up to $13.00.
Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) has had a focus of developing and commercializing various therapies for patients with rare diseases. Currently their two leading drugs are Juxtapid, a choloesterol drug and Myalept, for leptin deficiencies.
It should be interesting to follow this stock as trading continues today in response of this upgrade. The stock is up 16.98% or $1.53 following the news, hitting $10.54 per share. About 1.22 million shares traded hands or up 8.93% from the average. AEGR has declined 53.72% since May 18, 2015 and is currently downtrending. It has underperformed the S&P500 by 51.46%.
From a total of 4 analysts covering Aegerion Pharmaceuticals (NASDAQ:AEGR) stock, 2 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 50% of the ratings are positive. The highest target price is $31 while the lowest target price is $7. The mean of all analyst targets is $18 which is 70.78% above today’s ($10.54) stock price. Aegerion Pharmaceuticals was the topic of 7 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Bank of America upgraded shares on November 11 to a “Neutral” rating.
Aegerion Pharmaceuticals, Inc. is a biopharmaceutical firm engaged in the development and commercialization of therapies for patients with debilitating rare diseases. The company has a market cap of $263.22 million. The Company’s products include Juxtapid and MYALEPT (metreleptin). It currently has negative earnings. Lomitapide is a small molecule microsomal triglyceride transfer protein, which is marketed under the brand name Juxtapid (lomitapide) capsules (Juxtapid) in the United States as an adjunct to a low-fat diet and other lipid-lowering treatments.