Kos reiterated by Citigroup at hold

Kos Pharmaceuticals was reiterated by Citigroup Investment Research analyst Andrew Swanson at a hold rating and the price target was lowered to $53 to reflect a lower growth profile. Shares fell 27% after Merck revealed that it is developing two products that directly target Kos' core franchise. The company's options are limited, Citigroup said, adding that it remains cautious as prescription trends continue to decelerate, aggressive price increases has led to wholesaler buy-ins, which Citigroup said it believes will likely result in an 11-month year. Shares of the Cranbury, N.J., specialty pharmaceutical company were down 49 cents, or 0.96%, at $50.37 on volume of 4,376,725 shares versus the three-month running average of 607,340 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.