Laidlaw Starts RXi Pharmaceuticals (RXII) at Buy

Laidlaw initiated coverage on RXi Pharmaceuticals (NASDAQ: RXII) with a Buy rating and a price target of $8.00.

Analyst Edward White said, "Our price target for RXi Pharmaceuticals is $8.00, which is based on the NPV of our probability-adjusted forecasts for RXI-109 and a small value for the company’s preclinical pipeline. While we believe there is significant market opportunity for the drug beyond scar revision, we have based our assumptions for the company’s value only on our expectations for the market of the indications currently being studied by the on-going Phase IIa studies. Applications beyond our current assumptions may include prophylaxis use by a much larger population represented by the 42 million surgeries per year in the U.S."

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

Shares of RXi Pharmaceuticals closed at $2.69 yesterday.

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