Piper Jaffray Reiterates Overweight, $23 PT

Piper Jaffray reiterated its ViroPharma VPHM Overweight rating and $23 price target in a research report published today. In the report, Piper Jaffray states, "While this is a niche market with an estimated $50 million in peak sales, we believe Buccolam will leverage ViroPharma's existing commercial infrastructure in Europe and make a meaningful contribution to cash flow. We continue to believe VPHM shares offer a good buying opportunity at current levels regardless of the timing of expected generic competition for Vancocin based on Cinryze sales growth and our belief ViroPharma can leverage its balance sheet to seek new growth opportunities." Shares of ViroPharma were trading at $17.76 at the time of posting, down 1.06% from Thursday's market close.