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Fly News Breaks for October 6, 2015
BXLT, MACK
Oct 6, 2015 | 06:12 EDT
Brean Capital analyst Jonathan Aschoff recommends using the recent pullback in shares of Merrimack Pharmaceuticals (MACK) as a buying opportunity. Merrimack is well positioned going into its October 24th FDA action date for MM-398 in the post-gemcitabine pancreatic cancer setting, Aschoff tells investors in a research note. Further, an approval in Europe is likely in Q2 of 2016 given partner Baxalta's (BXLT) April filing, the analyst adds. He keeps a Buy rating on the stock with a $16 price target.
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