UPDATE: Brean Murray Maintains Buy, Lowers PT to $7 on Pozen
Brean Murray Carret & Co reiterates its Buy rating on Pozen, Inc. (NASDAQ: POZN) as the company's sale Treximet and MT-400 royalties removes financing overhang.
BMC & Co. comments, “The market value of Pozen is $75 million, and therefore we consider this sale to be in the best interest of the stock holders. Pozen was clearly not receiving the value it deserved for its Treximet royalty and thus showing investors hard cash that removes a financing overhang is positive development.” BMC lowers its target on the stock from $9 to $7 on lower profitability due to loss of royalties.
POZN closed at $2.50 per share on Wednesday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.