Stock Analysis: Corcept, MAKO, DepoMed, Validus, Edwards Lifesciences
Corcept Therapeutics Inc.(NASDAQ:CORT): JMP Securities believes that the FDA’s decision to refrain from holding an Advisory Committee hearing on Corcept’s Korlym drug, and the agency’s decision not to require a REMs for the drug indicate that the drug will be approved within the next several months. The firm raised its target on Corcept to $9 from $7 and maintains an Outperform rating.
MAKO Surgical Corp.(NASDAQ:MAKO): Summer Street sees a lot of interest in robotic surgery and possible competition to Mako Surgical’s RIO robot into the American Academy of Orthopaedic Surgeons meeting which begins on February 7. The firm believes the earliest U.S. competition for Mako’s RIO is at least a year away and keeps a Buy rating on the stock with a $39 price target.
DepoMed Inc.(NASDAQ:DEPO): JMP Securities increased its target on Depomed (NASDAQ:DEPO) after Merck (NYSE:MRK) announced FDA approval of Janumet XR, which is based on Depomed’s proprietary drug delivery technology. The firm notes that Depomed will receive a royalty from Merck, and it reiterates an Outperform rating.
Validus Holdings, Ltd.(NYSE:VR): After Validus reported lower than expected Q4 operating EPS, JMP Securities believes that the miss was driven by the company’s conservatism on 2011 catastrophe loss estimates. The firm thinks that the company consequently is poised to report strong 2012 results.
Edwards Lifesciences Corp.(NYSE:EW): Edwards Lifesciences shares defended at Goldman.
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