Update from jefferies..... I like the price target $35 compared...

Update from jefferies..... I like the price target $35 compared to current $20, a 75% increase.

** Analysts at Jefferies cut price target of Clinuvel Pharmaceuticals CUV to A$35.80 from A$36.80;

maintain 'buy' rating**

Says drivers of Clinuvel's result included solid revenue growth and lower costs than expected**

CUV reported 19% jump in FY revenue at A$78.3 mln ($50.62 million)**

"We believe that CUV currently is treating only about 4% of the EPP patients in larger countries of Europe, Americas and Asia, a situation which should be progressively corrected through ongoing local approvals" - Brokerage**

Clinuvel's drug Scenesse is a treatment for EPP, or erythropoietic protoporphyria – a rare condition that causes severe pain after exposure to the sun