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RBC maintains Kos at outperform
Kos Pharmaceuticals, Inc. was kept at an outperform, average risk rating and a $55 price target by RBC Capital Markets analyst Ken Trbovich. Kos' FAST-1 trial failed to show a statistically significant difference between Icatibant and a placebo in the primary endpoint, and the FAST-2 trial used an unapproved comparator. Jerini found that the combined analysis shows a statistically significant reduction in time to onset of symptom relief in agnioedema. While there is a need for such products, RBC believes Jerini will need to conduct at least one more study. The best case is an approvable letter next June. Shares of the Cranbury, N.J.-based pharmaceutical company were down $1.79, or 3.65%, at $47.28. (Nasdaq: KOSP)
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