Zacks restated their neutral rating on shares of Optimer Pharmaceuticals (NASDAQ:OPTR) in a report issued on Monday, AnalystRatingsNetwork reports. They currently have a $13.00 target price on the stock.
Zacks’ analyst wrote, “Optimer Pharma, which will be acquired by Cubist Pharma later in the year for $15.75 per share, reported second quarter 2013 net loss of $0.55, narrower than the Zacks Consensus Estimate of a loss of $0.61. Results compared unfavorably to the year-ago earnings of $0.01 per share. Lower revenues were primarily responsible for the loss. Revenues in the second quarter of 2013 came in at $20.1 million, down 59.7%. The offer price represents a premium of 18.5% to Optimer’s closing price on July 30. Optimer currently co-markets Dificid-an antibiotic- with Cubist in the U.S. The successful closure of the deal would transfer the entire rights to Cubist which has significant experience in marketing antibiotics. We retain our Neutral recommendation on the stock.”
Zacks has also modified their ratings on a number of other healthcare stocks in the few days. The firm downgraded shares of Bristol-Myers Squibb Co. from a neutral rating to an underperform rating. Their analysts now have a $40.00 price target on that stock. Also, Zacks reiterated its neutral rating on shares of Mylan Inc.. They have a $36.00 price target on that stock. Finally, Zacks reiterated its outperform rating on shares of Hospira Inc.. They have a $50.00 price target on that stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird cut their price target on shares of Optimer Pharmaceuticals from $16.00 to $12.00 in a research note to investors on Thursday, August 1st. They now have a neutral rating on the stock. Separately, analysts at Canaccord Genuity downgraded shares of Optimer Pharmaceuticals from a buy rating to a hold rating in a research note to investors on Wednesday, July 31st. They now have a $13.00 price target on the stock, down previously from $22.00. Finally, analysts at Jefferies Group downgraded shares of Optimer Pharmaceuticals from a buy rating to a hold rating in a research note to investors on Wednesday, July 31st. They now have a GBX 13.25 ($0.20) price target on the stock, down previously from GBX 17 ($0.26).
Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $15.88.
Shares of Optimer Pharmaceuticals (NASDAQ:OPTR) traded down 0.24% during mid-day trading on Monday, hitting $12.45. Optimer Pharmaceuticals has a one year low of $8.64 and a one year high of $16.80. The stock’s 50-day moving average is currently $14.11. The company’s market cap is $606.6 million.
Optimer Pharmaceuticals, Inc (NASDAQ:OPTR) is a biopharmaceutical company focused on developing and commercializing hospital specialty products.
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