Needham & Company Assumes Coverage on Pharmacyclics (PCYC) at Buy; Review and ASH Meeting Preview

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Needham & Company assumes coverage on Pharmacyclics (NASDAQ: PCYC) with a Buy. PT $14.00.

Needham analyst says, "Pharmacyclics is developing PCI-32765, a small molecule Btk inhibitor, for the treatment of B-cell related cancers. Data from a collection of open-label Phase 1/2 trials have pointed to impressive efficacy as well as an encouraging safety profile. The company is focusing initially on relapsed/refractory (r/r) Chronic Lymphocytic Leukemia (CLL) and Mantle Cell Lymphoma (MCL), with plans to ultimately expand to a broader front-line Non-Hodgkin’s Lymphoma label."

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

Shares of Pharmacyclics closed at $11.10 yesterday, with a 52 week range of $4.75-$13.60.

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