NeoPharm maintained by Merrill at buy

NeoPharm, Inc. was maintained by Merrill Lynch analyst David Munno at a buy rating and a $18 price target after the Independent Data Monitoring Committee recommended that the Precise trial of IL13 in glioblastoma continue without expanding enrollment despite a wide belief on the Street that additional patients would need to be enrolled. An interim analysis of the trial and a potential equity offering are the company's next events, Merrill said. On Dec. 27, shares of the Lake Forest, Ill., biopharmaceutical company were up $4.15, or 52.20%, at $12.10 on volume of 15,525,815 shares versus the three-month running average of 557,031 shares.

© 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.