RBC starts Somaxon at outperform

RBC Capital Markets analyst Ken Trbovich began coverage of Somaxon Pharmaceuticals Inc. with an outperform rating, speculative risk, and a $19.00 price target. Data from two phase 3 trials demonstrated that Silenor, with its unique mechanism of action, is as good or better than the currently approved drugs for insomnia, according to Trbovich. Silenor targets a large relatively untapped market that holds significant potential for continued growth. .Shares of the San Diego-based specialty pharmaceutical company were up 27 cents, or 1.89%, at $14.54. (Nasdaq: SOMX)

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