Analyst Eun K. Yang with Jefferies and Company Inc. wrote in a Monday note to clients that the stock is oversold. Yang predicts the drug will not cause any serious safety issues because its main ingredients are two already marketed pain relieving drugs, though he noted that the exact nature of the FDA's inquiry is unknown.
Yang rated the stock at "Buy" and also lowered his price target to $15 from $20. He predicts Trexima, which is Pozen's lead product candidate, will be on the market in early 2008, about 15 months later than previously anticipated.
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