NeoPharm reiterated by JMP as strong buy

NeoPharm, Inc. was reiterated by JMP Securities analyst Charles C. Duncan at a strong buy rating and $19 price target after the company updated enrollment in its pivotal phase 3 Precise trial of cinetredekin besudotox in glioblastoma multiforme, an aggressive form of brain cancer. Although November's enrollment fell short and December contains a holiday week, JMP said it believes the trial will reach its goal of enrolling 300 patients by year-end. The stock should gain upward momentum in anticipation of a positive outcome from the ongoing trial. Shares of the Lake Forest, Ill., biopharmaceutical company were down 33 cents, or 3.61%, at $8.82 on volume of 239,188 shares versus the three-month running average of 284,631 shares.

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