NEW YORK, July 2 (newratings.com) - Analysts at Brean Murray initiate coverage of Poniard Pharmaceuticals Inc (
PARD -
news) (ticker: PARD) with
a "buy" rating. The target price is set to $11.
In a research note published this morning, the analysts mention that the company's growth prospects are expected to be driven by the positive results of the phase 2 and 3 trials of picoplatin. Encouraging data is also expected to bring in partnerships yielding double digit royalties and a greater commitment from Poniard Pharmaceutical's partner for the development of the chemotherapy, the analysts add.
© 2009 New Ratings
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