Oppenheimer Raises OPTR Price Target to $17

Oppenheimer has issued a report raising the Price Target on Optimer Pharmaceuticals OPTR from $14 to $17 following the FDA safety approval of fidaxomicin. According to the report, "We continue to anticipate approval of fidaxomicin by the May 30th PDUFA based on the panel's unanimous vote (13-0) pertaining to overall safety/efficacy. Of note, panel members appeared slightly concerned sbout higher incidences of GI bleeding and leucopenia but we do not expect these issues to prevent approval." OPTR is rated Outperform and closed at $13.80 yesterday.