Brinson Patrick Starts Vical (VICL) at Market Outperform

Brinson Patrick initiated coverage on Vical (NASDAQ: VICL) with a Market Outperform rating and a price target of $7.00.

Analyst Vernon Bernardino said, "We believe Vical’s lead product, Allovectin, is poised to be a significant driver of the company's shares, beginning in 2Q13 with database lock of its Allovectin in metastatic melanoma Phase III trial. We believe the results will be positive, positioning Vical with a blockbuster opportunity in the rapidly evolving melanoma market."

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

Shares of Vical closed at $2.93 yesterday.

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