Rodman & Renshaw Provides Color on Enzo Biochem

Rodman & Renshaw provided color on Enzo Biochem ENZ. In a research report published today, the rating agency commented on the outcome of the U.S. Supreme Court decision. In the report, Rodman & Renshaw states, "This morning, Enzo reported that the US Supreme Court has refused to hear an appeal brought by Life Technologies (LIFE, Not Rated)... The US Supreme Court ruling opens the legal door for Enzo to pursue claims of patent infringement against Life Technologies (formerly Applera) regarding DNA sequencing technology developed and sold by Applera that Enzo believes is covered by seminal US Patents 5,328,824 and 5,449,767." At the moment, Rodman & Renshaw has an Market Outperform rating and a price target of $7 placed on the company's stock. On Tuesday, Enzo added 6.28% to its value to finish the day at $4.06.