FOLOTYN Sales Will Continue to Drive Allos Therapeutics (NASDAQ:ALTH)

In 2011, FOLOTYN sales will continue to be the main catalyst for Allos Therapeutics (NASDAQ:ALTH), which should bode well for the company.

Needham said, "Looking into 2011, we believe FOLOTYN sales will continue to be the main driver of the stock, and we expect the recent clinical data, new dosing adjustment strategy, and the permanent J-code to facilitate the adoption of FOLOTYN in r/r PTCL...We believe FOLOTYN, the only approved drug to date for r/r PTCL, is uniquely positioned and may establish itself as the standard of treatment for r/r PTCL. In the long-term, label expansion represents the long-term growth opportunity for FOLOTYN and the Company."

Needham & Company reiterates a "Buy" rating on Allos Therapeutics, which closed Wednesday at $4.46, down $0.06, or 1.33 percent. Needham has a price target of $8 on Allos.