JMP says NeoPharm still strong buy

NeoPharm, Inc. was reiterated by JMP Securities Inc. analyst Charles C. Duncan at a strong buy rating and a $19 price target after an independent data monitoring committee recommended the phase 3 Precise trial in brain cancer should continue as planned without an increase in enrollment, proving that the studies were not futile. In JMP's view, the committee's decision and continued enthusiasm by physicians involved in the development of the drug further enhance JMP's conviction that it could become the first effective treatment for recurrent brain cancer with an estimated $250 million annual revenue potential in 2009. On Dec. 28, shares of the Lake Forest, Ill., biopharmaceutical company were down 49 cents, or 4.05%, at $11.61 on volume of 5,589,736 versus the three-month running average of 634,362 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.