Oppenheimer Maintains Outperform on Somaxon Pharmaceuticals

Oppenheimer is out with its report today on Somaxon Pharmaceuticals SOMX, maintaining Outperform. In a note to clients, Oppenheimer writes, "Our investment thesis is based primarily on the potential of Silenor, SOMX's recently approved product for treatment of insomnia. In particular, we see significant upside to the current share price based on several favorable factors. First, we see a potential marketing advantage for Silenor based on potential improvements over currently marketed therapies in key efficacy measures such as time to sleep onset and ability to improve sleep maintenance. Next, we believe that Silenor may potentially offer a better safety profile than competitors, since Silenor is not addictive like other sleep medications." At the time of posting, shares of SOMX were trading pre-market at $2.28, up 0.44% from Wednesday's close.
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