Needham & Company Reiterates a 'Buy' on Pharmacyclics (PCYC); ASH Meeting Review; PCI-32765 Continues to Impress; Phase 3 Trials on Track for 2012

Needham & Company reiterates a 'Buy' on Pharmacyclics (NASDAQ: PCYC) price target of $18.00.

Needham analyst says, "Pharmacyclics presented results from Phase 2 single-agent PCI-32765 trials in r/r CLL and r/r MCL at the ASH meeting this week and held a conference call last night to review data and strategy for continued development of the compound. An FDA meeting around Phase 3 development in r/r CLL was recently completed, with no surprises from regulators according to management. Meetings with the FDA around r/r MCL are expected early in 2012, as are meetings with European regulators around both indications. Phase 3 trial initiations are expected by mid-2012. We note substantial investor, clinical investigator, and competitor interest in this compound at the ASH meeting."

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 $13.92 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Coherent (COHR) PT Raised to $420 at Needham
• Broadridge Financial (BR) PT Raised to $180 at UBS, Neutral Rating Maintained
• Cullinan Oncology Inc. (CGEM) PT Raised to $27 at UBS