UBS updates PT to $33.50 - BUY

After review of "Market Update" this morning, UBS says correction is overdone and has maintained BUY rating with PT $33.50 (from $39).

The analyst believes this is a blip similar to other times when there has been volatility in dosage growth. Says the new drug which is cascading the eventual use of SIRT is inferior (1.8 mths vs >9 mnths OS SIRT) and is not a substitute for SIRT, but is convenient. Expects growth to return once the effect of this cascade is washed through.

Note: UBS for sometime now has based its valuation on current indications only and FCF. No impact from potential success of existing trials and expansion of indications.

Also, Intelligent Investor has put a HOLD on stock and will review for opportunity of a BUY in coming days.

I suspect most analyst PT changes will come up above the current price. So I'm expecting some HOLDs/BUYs in the coming days.

DYOR.