Nabi initiated by Global Crown at underweight

Nabi Pharmaceuticals coverage was initiated by Global Crown Capital analyst Kate Winkler at an underweight rating. The company's approved product sales are declining and late-stage pipeline faces substantial clinical, regulatory and market risks, Global Crown said, concluding that risks currently outweigh rewards in investing in Nabi. Nabi shares Wednesday dropped $0.23, or 1.54%, to $14.67 on volume of 1,326,606 shares versus the three-month running average of 619,735 shares.

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