Canaccord Genuity Reiterates a 'Buy' on Zalicus (ZLCS); Focus Shifts

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Canaccord Genuity reiterates a 'Buy' on Zalicus (NASDAQ: ZLCS) price target of $3.00.

Analyst, Ritu Baral, said, "Reiterate rating and price target despite Synavive Ph2b miss -- discontinuation shifts focus to pain programs that that we think have significantly more promise.. After today’s Synavive Ph2 miss and program halt...ZLCS will focus on Ph2 Z160, a novel, oral N-type Ca2+ channel blocker for neuropathic pain, and Ph1 pain drug Z944, a novel, oral T-type Ca2+ channel blocker."

For an analyst ratings summary and ratings history on Zalicus click here. For more ratings news on Zalicus click here.

Shares of Zalicus closed at $0.79 yesterday, with a 52 week range of $0.72-$1.62.

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