Angiotech at buy by Merrill

Merrill Lynch analyst Hari Sambasivam rated Angiotech Pharmaceuticals Inc. at a buy after a Wall Street Journal article indicating lower drug eluting stent use in hospitals due to physician concerns regarding late stent blood clots. Angiotech, with Taxus royalties representing up to 46% of company revenues, could be affected by such an article. The analyst does not expect any wholescale reduction in drug-eluting stent use. Shares of the Vancouver, B.C.-based pharmaceutical company were down 69 cents, or 5.44%, at $11.99 on volume of 1,145,222 shares versus the three-month running average of 421,868 shares. (Nasdaq: ANPI)

© 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.