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A Hold recommendation has recently been issued to healthcare company CombinatoRx, Inc. (CRXX) by Zacks pharmaceutical analyst Brian Marckx, CFA and senior analyst Jason Napodano, CFA. Here's what their latest update said:
'CombinatoRx is engaged in the discovery, development, and commercialization of novel therapeutics that are combinations of approved drugs. CombinatoRx has identified seven product candidates which target multiple diseases like immuno-inflammatory diseases, chronic pain, topical dermatoses, metabolic disease and oncology. We expect significant news flow on the pipeline candidates in 2007 and 2008. At this time we would like to see more clinical data before recommending the name.
'The stock may offer an attractive investment opportunity once CRx-102, the lead candidate, moves into phase III trials and the other candidates move forward. We rate the stock a Hold with a $7.00 price target. Once the data starts flowing in, we expect the company to become more active on the partnership front. CombinatoRx is likely to enter into collaborative agreements with pharmaceutical and biotechnology companies to support the full development and commercialization of selected product candidates. We expect to hear announcements regarding partnership deals in 2008.
'Meanwhile, we expect significant news flow on the different pipeline candidates in 2007 and 2008. At this time we would like to see more clinical data before recommending the name. We are yet to see phase III data on any of the candidates. The stock may offer an attractive investment opportunity once CRx-102 moves into phase III trials and the other candidates move forward. We rate the stock a Hold with a $7.00 price target.'
Read the full analyst report on CRXX.
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