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JMP reiterates NeoPharm at strong buy
NeoPharm, Inc. was reiterated at a strong buy with a $19 price target by JMP Securities LLC analyst Charles C. Duncan on news that Sonus/Schering AG entered into a $50 million licensing deal for a anti-cancer compound with similar properties to NeoPharm's LEP-ETU. The deal validates the need for these types of agents, which may be served by LEP-ETU and could present a large commercial opportunity. Shares of the Lake Forest, Ill.-based biopharmaceutical company were up $0.23, or 2.37%, at $9.94 on volume of 310,835 shares versus the three-month running average of 294,997 shares.
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