Oscient Pharmaceuticals "strong buy," target price reduced

02/28/07 - JMP Securities

NEW YORK, February 28 (newratings.com) - Analyst Adam Cutler at JMP Securities reiterates his "strong buy" rating on Oscient Pharmaceuticals Corporation (OSCI), while revising his estimates for the company. The target price has been reduced from $14 to $11.

In a research note published yesterday, the analysts mention that the company has reported its 4Q06 loss per share lower than the estimates and the consensus. While Factive sales were adversely impacted by a mild early winter, sales are likely to be picking up on account of the severe weather in early 2007, the analyst says. The EPS estimates for 2007, 2008 and 2009 have been raised from -$3.04 to -$2.34, from -$1.33 to -$1.08 and from -$0.45 to -$0.48, respectively. The EPS estimate for 2009 and 2010 have been reduced from -$0.45 to -$0.48 and from $0.64 to $0.48, respectively.