Aegerion Receives a Hold from Cowen & Co.

By Austin Angelo

Cowen & Co. analyst Phil Nadeau reiterated a Hold rating on Aegerion (NASDAQ: AEGR) today and set a price target of $1.50. The company’s shares closed yesterday at $1.97, close to its 52-week low of $1.23.

Nadeau said:

“Due to the November 29, 2016 merger of Aegerion Pharmaceuticals, Inc.”

According to TipRanks.com, Nadeau is a 2-star analyst with an average return of -0.2% and a 44.7% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Achillion Pharmaceuticals, Catabasis Pharmaceuticals, and Voyager Therapeutics Inc.

Aegerion has an analyst consensus of Hold.

Based on Aegerion’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $35.39 million and GAAP net loss of $26.57 million. In comparison, last year the company earned revenue of $67.3 million and had a GAAP net loss of $9.77 million.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AEGR in relation to earlier this year. Most recently, in September 2016, Broadfin Healthcare Master Fund Ltd, a Major Shareholder at AEGR bought 75,000 shares for a total of $131,250.

Aegerion Pharmaceuticals, Inc. operates as a biopharmaceutical company. It engages in the development and commercialization of innovative therapies for patients with debilitating rare diseases. Its brands includes JUXTAPID, LOJUXTA and MYALEPT. The company was founded by David I. Scheer and William H. Lewis on February 4, 2005 and is headquartered in Cambridge, MA.