DOV held at neutral by Merrill

DOV Pharmaceutical Inc. was kept at a neutral rating by Merrill Lynch analyst David Munno on possible weakness on the Indiplon PDUFA decision, since DOV receives a 3.5% royalty on Indiplon sales.

Merrill currently projects worldwide sales of Indiplon of at least $1 billion. While DOV does not have any significant catalysts in the next six months, Merrill believes its pipeline, including bicifadine for pain, has a long-term value. Shares of the Hackensack, N.J., pharmaceutical company were up $0.05, or 0.71%, at $7.13 on volume of 393,527 shares versus the three-month running average of 695,145 shares. (Nasdaq: DOVP)

© 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.