Rodman & Renshaw Re-Initiates Coverage on DUSA Pharmaceuticals (DUSA) with a Market Outperform, Sees as Possible Takeover Target
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Rodman & Renshaw re-initiates coverage on DUSA Pharmaceuticals (Nasdaq: DUSA) with a Market Outperform. Price target $6.
Rodman analyst says, "We believe Dusa has assembled the pieces it needs to support robust sales growth of its Levulan-PDT therapy for precancerous skin lesions. We think Dusa will continue to take share in the medical dermatology market based on strong efficacy in eliminating lesions, superior prevention of lesion recurrence, and cosmetic benefits...With an approved product, $22 million in the bank and $89 million in NOLs on its books, Dusa seems a good target for an acquirer interested in the dermatology space."
DUSA Pharmaceuticals, Inc. is a dermatology company that is developing and marketing Levulan PDT and other products for common skin conditions.
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