Zalicus (NASDAQ: ZLCS)‘s stock had its “buy” rating reaffirmed by analysts at MLV & Co in a research report issued to clients and investors on Wednesday. They currently have a $4.00 price target on the stock.
Separately, analysts at Wedbush reiterated an “outperform” rating on shares of Zalicus in a research note to investors on Wednesday, December 28th. They now have a $5.00 price target on the stock. Also, analysts at McNicoll Lewis & Vlak initiated coverage on shares of Zalicus in a research note to investors on Wednesday, December 21st. They set a “buy” rating and a $4.00 price target on the stock.
Zalicus Inc., formerly CombinatoRx, Incorporated, is a biopharmaceutical company engaged in developing drug candidates with a focus on the treatment of pain and inflammation. The Company has devoted substantially all of its resources to the development of its drug discovery technology and the research and development of its drug candidates, including conducting preclinical and clinical trials and seeking intellectual property protection for its technology and product candidates. On March 1, 2010, the United States Food and Drug Administration, (FDA), approved the New Drug Application (NDA) for Exalgo (hydromorphone HCl) extended-release tablets, for the management of moderate to severe pain in opioid tolerant patients requiring continuous, around-the-clock opioid analgesia for an extended period of time. On December 21, 2009, the Company merged with Neuromed Pharmaceuticals, Inc. and its subsidiaries.
Shares of Zalicus traded down 1.74% during mid-day trading on Wednesday, hitting $1.13. Zalicus has a 52 week low of $0.82 and a 52 week high of $3.21. The stock’s 50-day moving average is $1.18 and its 200-day moving average is $1.37. The company’s market cap is $111.5 million.