Rodman & Renshaw Comments on Pharmacyclics, Maintains PT

Rodman & Renshaw maintained its Pharmacyclics

$22 price target and provided color on the company in a research report published today. In the report, Rodman & Renshaw states, "Our enthusiasm for the prospects for PCI-32765 remains undiminished. We believe the molecule has blockbuster potential, and continue to project worldwide product revenues of $1.65 billion by FY2020. Indeed, as Celgene steps into this highly promising area of research, we would expect the market opportunity to increase for both players." Shares of Pharmacyclics were trading at $17.88 at the time of posting, down 3.90% from Wednesday's market close.