LifeTech Capital Maintains Bionovo Strong Speculative Buy, $7.50 PT (BNVI)

LifeTech Capital maintained its Bionovo BNVI Strong Speculative Buy rating and $7.50 price target in a research report published today. In the report, LifeTech Capital states, "Bionovo raised $27.8M in net proceeds in a financing led by Roths-Invest Asset Management AG, from the Nathan Rothschild Group, Zurich, Switzerland. This now allows Bionovo to advance Menerba® development through Phase IIIa dose-ranging clinical trials." Shares of LifeTech Capital closed Friday at $0.85, up 6.25% from Thursday's market close.