McNicoll, Lewis & Vlak Maintains SuperGen Buy, $8 PT

McNicoll, Lewis & Vlak maintained its SuperGen SUPG Buy rating and $8 price target after SuperGen's acquisition announcement of Astex Therapeutics in a research report published today. In the report, MLV states, "We expect SuperGen to provide an update on corporate structure and realignment plans of the new entity during the upcoming 2Q:11 earnings call (date still to be determined). Pending these announcements, MLV is maintaining its BUY recommendation and one-year target price of $8.00 for SuperGen, Inc." Shares of SuperGen closed today at $2.94, up 0.34% from Tuesday's market close.