Rodman & Renshaw Initiates Zalicus Coverage: Market Outperform, $5 PT

Rodman & Renshaw initiated Zalicus ZLCS coverage with a Market Outperform rating and $5 price target in a research report published today. In the report, Rodman & Renshaw states, "We believe that the company's drug combination approach and its innovative ion channel modulator discovery platform provide a renewable source of drug candidates throughout the development spectrum." Shares of Zalicus closed today at $2.60, down 1.14% from Tuesday's market close.