Rodman & Renshaw Maintains Zalicus Market Outperform, $5 PT

Rodman & Renshaw maintained its Zalicus

Market Outperform rating and $5 price target in a research report published today. In the report, Rodman & Renshaw states, "We value Zalicus shares based on a universe of comparable companies. We believe that the company could be valued at par with the average of this comparable group of drug developers with Phase 2/3 assets (average enterprise value of ~$470MM)." Shares of Zalicus closed today at $1.94, down 9.77% from Wednesday's market close.