Piper Jaffray Reports On VPHM In Advance Of 2Q:11 Results

Piper Jaffray is maintaining its Overweight rating, along with its price target, set at $23, on ViroPharma VPHM in light of expected 2Q:11 results. In the report, Piper Jaffray writes, “Another quarter has passed without generic competition for Vancocin. Adding a full 2Q:11 of Vancocin sales increases our total revenue estimate to $130 million from $104 million and EPS to $0.38 from $0.23. We expect ViroPharma to report 2Q:11 results later this month. We continue to see VPHM shares as a good buying opportunity regardless of the timing of expected generic competition for Vancocin based on Cinryze sales growth and other potential new growth opportunities.” VPHM closed Friday at $19.99.