WR Hambrecht Said Acusphere (ACUS) is Dramatically Undervalued
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Earlier, WR Hambrecht issued positive comments on Acusphere Inc. (Nasdaq: ACUS), reiterating ACUS as their top micro-cap stock pick, but now elevating ACUS as their single best idea through 2008. The firm has a Buy rating and $8 price target on ACUS.
The firm said, "Following our visit with Acusphere this week, we conclude that ACUS is dramatically undervalued and with the expected release of the last Imagify (first ultrasound contrast agent detecting myocardial perfusion) Phase 3 data (RAMP 2) in the next month, (which we expect to be positive), we believe there is a clear path to NDA filing by year-end, FDA approval in H2:08 and launch in 2009, and rapid initial adoption supported by new market research with Acusphere owning all U.S. marketing rights."
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