JPM cuts ViroPharma price target

ViroPharma Inc. was reiterated at market outperform by JMP Securities analyst Adam Cutler. JMP lowered its price target to $15 from $26. The Office of Generic Drugs at the Food and Drug Administration changed its stance on the data required for approval of generic Vancocin. If the OGD reverts to its original guidance, JMP believes Vancocin will enjoy exclusivity until at least 2010. If the new OGD guidance is unchanged, a generic Vancocin could possibly enter the market as soon as 2008 or 2009. Shares of the Exton, Pa., pharmaceutical company were down 28 cents, or 2.53%, at $10.58 on volume of 39,195,678 shares versus the three-month running average of 2,429,430 shares. (Nasdaq: VPHM)

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