Morgan Stanley Notes Positive News on Forest Laboratories Depression Drug Levomilnacipran

Morgan Stanley raises its odds on the chances Forest Laboratories

depression drug levomilnacipran being approved in a research report out today following positive news on the drug. Currently, Morgan Stanley has an Equal-Weight rating on the company. In the report, Morgan Stanley writes, "Levomilnacipran study in depression positive; filing in fall '12 for acute depression. We are raising our odds from 65% to 80%. FRX will have two depression drugs with different mechanisms, if levo is approved." Shares of Forest Laboratories are trading at $32.57, up 0.99% from yesterday's close.