Adolor at outperform

RBC Capital Markets analyst Michael J. Yee rated Adolor Corp. at outperform, above average risk, after the company, along with GlaxoSmithKline, reported top-line phase 3 results for alvimopan in chronic opioid induced bowel dysfunction (OBD). The next event for Adolor is expected to be approval of alvimopan in the acute setting of POI by the PDUFA of Nov. 9. RBC lowered its price target to $16 from $30 based on the delayed timeline and a higher discount rate. Shares of the Exton, Pa.-based biopharmaceutical company were down $11.32, or 45.33%, at $13.04, on volume of 24,806,645 shares versus the three-month running average of 395,211 shares. (Nasdaq: ADLR)

© 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.