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Yet Another Blow to Raptor Pharmaceuticals Thursday! (RPTP)

Zemanta Related Posts ThumbnailIf this morning’s Seeking Alpha article wasn’t enough, now Raptor Pharmaceuticals (NASDAQ: RPTP) received the most bearish of bearish analyst initiations. Gravity Research initiated covered on the company today with a “Strong Sell” and price target of $4. The stock is currently at $12.09 making this the stock market version of a major slap in the face.

Read: Seeking Alpha is Bringing Down Raptor Pharmaceuticals Thursday

Interestingly, the reasons for the downgrade are the same reasons mentioned in the Seeking Alpha article this morning. The fact that Procysbi is 25 times the price of competitor Cystagon with no better results. It also mentions that it had nearly three times the negative side effects in Phase III trials. Hopefully the analyst did his or her own research and didn’t take the word of the article.

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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