Merrill keeps MGI at market underperform

MGI Pharma, Inc. was kept at market underperform with a reduced price target of $14 from $15 by JMP Securities analyst Charles C. Duncan on news the company received an approvable letter from the Food and Drug Administration for Saforis for the treatment of oral mucositis. The FDA, however, did request an additional phase 3 study prior to the resubmission of the drug's NDA. Shares of the Bloomington, Minn.-based biopharmaceutical company were up 46 cents, or 2.64%, at $17.91. (Nasdaq: MOGN)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.