McNicoll, Lewis & Vlak Lowers SuperGen PT, Maintains Buy

McNicoll, Lewis & Vlak lowered its SuperGen SUPG price target from $8 to $6.50 and maintained its SuperGen Buy rating in a research report published today. In the report, McNicoll, Lewis & Vlak states, "We expect significant changes in SuperGen's pipeline following a portfolio review now underway, as well as further restructuring. We also expect a substantial increase in operating expenses following full integration of Astex by SuperGen, which compels us to lower our one-year target price to $6.50 (from $8.00) while maintaining our BUY recommendation." Shares of SuperGen were trading at $2.69 at the time of posting, down 4.27% from Wednesday's market close.