Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Banc of America Cuts Trimeris to 'Neutral'


Banc of America downgraded Trimeris (TRMS) to neutral from buy.

Analyst Michael King says he believes Trimeris' HIV drug Fuzeon represents a breakthrough therapy for HIV patients. However, after recent talks with HIV clinicians, and recent weak sales results, he sees little hope for near-term sales acceleration. He notes clinicians suggest there's a long road ahead; patient demand for Fuzeon is low so far.

To reflect challenges in the target population, King cut the $616 million 2008 earnings per share estimate to $392 million. He believes Trimeris will trade flat until Fuzeon accelerates, an event for which he doesn't foresee a catalyst. King cut the $39 target to $15.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus