JMP reiterates Pharmaxis at outperform

Pharmaxis Ltd. was reiterated at market outperform, with an increased price target of $38, from $31, by JMP Securities analyst Adam Cutler. The company received Swedish approval for Aridol and will seek approvals in the broader European Union and the United States. Additional individual country approvals are expected in early 2007. The proof-of-concept from Pharmaxis' next product, Bronchitol, expected in the next six months, should help create value, according to Cutler. Shares of the Frenchs Forest, Australia, drug development company were up $2.40, or 7.72%, at $33.50. (Nasdaq: PXSL)

© 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.