Global Hunter Securities Initiates Buy, $9 PT on Vical Incorporated

Global Hunter Securities initiates coverage on Vical Inc. (NASDAQ: VICL) with a Buy rating and a target price of $9 per share as the company makes progress on its clinical programs in 2011.

GHS says, “With the announcement of partnering TransVax development in hematopoietic stem cell transplantation with Astellas, Vical made tremendous progress advancing its clinical programs in 2011. Allovectin continues to be the key value driver, which we anticipate will position the company with the leading melanoma therapy and a blockbuster opportunity in the 2013 timeframe.”

VICL closed at $4.41 per share on Wednesday.