CV Therapeutics "buy," target price raised

04/25/07 - Cantor Fitzgerald

NEW YORK, April 25 (newratings.com) - Analyst George Zavoico of Cantor Fitzgerald reiterates his "buy" rating on CV Therapeutics (CVTX). The 12-month target price has been raised from $29 to $36.

In a research note published this morning, the analyst mentions that the company has posted its 1Q07 results ahead of expectations. CV Therapeutics’ Ranexa sales grew 33% sequentially in the quarter, Cantor Fitzgerald adds. The analyst expects the company to continue to generate double-digit sequential growth in its Ranexa sales.