Ardea Biosciences Inc (RDEA) - Bull of the Day
July 14 2011 - 8:00PM
Zacks
We are upgrading
Ardea Biosciences Inc (RDEA) to Outperform
from Neutral due to the promise shown by its lead pipeline
candidate lesinurad, which is being developed for treating
hyperuricemia and gout. Lesinurad, which has performed well in
clinical studies, will target a market with huge unmet need on
approval.
The current therapies have limited
efficacy with many gout patients failing to respond favorably to
these therapies. This should provide lesinurad with the opportunity
to take away share from currently approved therapies.
The impressive balance sheet at Ardea,
which has been strengthened by the signing of the lucrative
agreement with Bayer, is another positive for the company. We
believe that the current price represents an attractive entry point
for long-term investors.
ARDEA BIOSCIENC (RDEA): Free Stock Analysis Report
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