Jefferies ups NicOx to buy

NicOx SA's rating was revised to buy from hold by Jefferies International Ltd. analyst Nick Turner. The company's NCX 4016 failed to show a significant advantage over placebo in a phase 2 trial in patients with peripheral arterial occlusive disease. Turner lowered the price target to €4.25 from €5.50 but said the current stock price represents a buy opportunity, as NCX 4016 showed a significant advantage over placebo in patients with Type 2 diabetes in the same study and increased insulin sensitivity and renal function in diabetes patients in an exploratory phase 2a study. Shares of the Sophia-Antipolis, France-based pharmaceutical company were up €0.20, or 6.15%, at €3.45 on volume of 440,743 shares versus the three-month running average of 83,946 shares.

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