Tuesday, September 29, 2009

155% upside = "Neutral"? (ISPH)

AlphaNinja - I just don't "get it" sometimes.

Inspire Pharmaceuticals (ISPH) dropped 10% back on the 23rd, after Wedbush Morgan analyst Liana Moussatos cut her rating to "Neutral" from "Outperform." It's the same as going from Buy to Hold.

She worried that there are risks to the company's glaucoma program, and that upside events for the stock are a long way off. The thing is, she maintains a price target for the shares of $15, or 155% above the current level. If that's her target for the shares, why on earth is the stock not to be bought here?

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