Addition of Nancy Chang to Board Will Benefit SciClone (SCLN), Maintain Buy - Aegis

September 25, 2013 11:33 AM EDT Send to a Friend
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Price: $7.71 --0%

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    2 Buy, 1 Hold, 0 Sell

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    Up: 15 | Down: 38 | New: 13
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Aegis Capital maintains a Buy on SciClone Pharmaceuticals, Inc. (Nasdaq: SCLN) with price target of $9 following the addition of a key board member in Nancy Chang, Ph.D., earlier this week.

Analyst Ram Selvaraju, Ph.D., commented, We believe Dr. Chang could bring valuable strategic advisory to SciClone in the area of global and China pharmaceutical marketplaces, healthcare strategy and policy expertise. As SciClone continues to build itself as a top-notch specialty pharmaceutical company in the China market with differentiated therapeutics, this addition to the Board of Directors may help the company take advantage of the growth opportunities and achieve its goal of revenue growth.

Selvaraju thinks SciClone's near-term revenue prospects lie within Zadaxin, with management recently indicating that channel inventory has returned to normalized levels as of Q213 and that sales of the Zadaxin are likely to grow about 50 percent in second-half 2013 versus the first-half of the year.

For an analyst ratings summary and ratings history on SciClone Pharma click here. For more ratings news on SciClone Pharmaceuticals click here.

Shares of SciClone Pharma closed at $5.08 yesterday, with a 52 week range of $3.68 - $6.30.

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