Excerpt from Lehman Brother's Press Release:
"...Further, we suggest that the company will sign a major corporate partner for Novastan and will release additional Phase 2 Novastan data in the acute mi setting, both this summer.
Based on today's news, the pending summer events, and the progression of the rest of the company's pipeline, we propose that the stock will demonstrate impressive upside momentum; we therefore reaffirm our 1-Buy rating and 12-month price target of $16."
The remainder of the release concerns EPS data, an HIT/HITTS background, a phase III data summary, and the conclusion, which is basically the above restated.
I wish to correct a previous post, the press release is confusing about Lehman's position wrt TXB - There are no special disclosures, apparently Lehman's has not participated in a public or private offering, nor makes a market in TXB. At least, that's what the press release implies, but the format and legalese make it difficult to understand. My apologies for the misinformation. |
