Jefferies ups Hollis-Eden to hold

Hollis-Eden Pharmaceuticals, Inc. was upgraded by Jefferies & Co. Inc. analyst Adam A. Walsh to hold from underperform after its shares hit the $5 price target. Jefferies said it believes downside risk is minimal at current levels. A U.S. Health and Human Services request for proposal for Neumune to treat acute radiation syndrome is now just a small stockpile, but Hollis-Eden could affect the proposal to the company's benefit. Also, the company recently submitted an unsolicited proposal to the Department of Defense to enter into a sole source negotiation for procurement of Neumune by the armed forces. Shares of the San Diego development-stage pharmaceutical company were up $0.26, or 4.99%, at $5.47 on volume of 474,084 shares versus the three-month running average of 395,495 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.