Citi Reduces Price Target On Allos Therapeutics

According to Citi, Allos Therapeutics ALTH price target is reduced to $5. Citi said that it is reducing the PT to $5 based on the lower FY2011 FOLOTYN sales guidance of $48M - $55M comparing to previous CIRA and cons estimates of $57M and $63M. “Our new growth estimates are more modest, with 2015 sales of $151M comp to previous est of $191M. We maintain our Buy rating. In our view, partnership with Mundipharma should enhance the FOLOTYN brand in global oncology community. Potential label extension and greater compliance with the dosing guidelines should support growth in FOLOTYN going forward.” Allos Therapeutics closed yesterday at $2.85.