Piper Jaffray Maintains Neutral Rating On Myrexis

According to Piper Jaffray, Myrexis MYRX Neutral rating is maintained. Piper Jaffray said that abstracts were published last night for the upcoming American Society of Clinical Oncology (ASCO) meeting in Chicago from June 3rd-7th. “While we remain Neutral pending pipeline progress, we believe there could be a near term trading opportunity into ASCO in June or a Nampt partnership. Myrexis ended FY3Q:11 with cash of $123.7 million or $4.83 per share. Myrexis is the only company in our drug discovery universe trading at a negative enterprise value and steep discount to current cash.” Myrexis closed yesterday at $4.25.