Advanced Magnetics price target cut by Jefferies

Advanced Magnetics Inc. was maintained by Jefferies & Co. analyst Adam Walsh at a buy rating but the price target on the stock was reduced to $12 per share from $14 following the company's announcement that a New Drug Application for its Ferumoxytol in intravenous iron replacement therapy would be delayed for about one year. Advanced Magnetics shares Thursday fell $2.30, or 18.11%, to $10.40 on volume of 341,300 shares versus the three-month running average of 20,395 shares.

© 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.