JMP reiterates NeoPharm at strong buy

JMP Securities analyst Charles C. Duncan reiterated NeoPharm, Inc. at a strong buy with a $19 price target. The company's financial results showed better-than-expected fiscal control. However, JMP raised its net loss estimates for 2006 to $1.33 from $1.24. NeoPharm emphasized its focus on cintredekin besudotox and developing the NeoLipid-based drugs, both for cancer. Shares of the Lake Forest, Ill., biopharmaceutical company were up 73 cents, or 10.72%, at $7.54 on volume of 577,627 shares versus the three-month running average of 279,360 shares. (Nasdaq: NEOL)

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