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Biotech / Medical : Neurochem (NRMX)

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From: Angelo Ferraro	1/5/2007 9:31:40 AM
	of 54

Neurochem initiated with a sell NEW YORK, January 5 (newratings.com) - Analyst Jonathan Aschoff of Brean Murray initiates coverage of Neurochem Inc (NRM.TOR) with a "sell" rating. The target price is set to $1. In a research note published yesterday, the analyst mentions that the recent rise in the valuation of Neurochem’s stock appears unjustified and the company’s share price is currently twenty times higher than the fair value. Neurochem’s Phase 3 Alzhemed trial is unlikely to meet its primary endpoint, the analyst says. The FDA is expected to issue another Kiacta Approvable Letter, since a single Phase 2/3 trial with the total number of patients being 183 represents insufficient data to warrant an approval, Brean Murray adds. newratings.com

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