Nabi maintained by Bear Stearns at outperform

Nabi Pharmaceuticals was maintained by Bear Stearns analyst Mark Schoenebaum at an outperform rating with a price target of $18 per share following second-quarter earnings. Bear Stearns continues to believe that the ongoing phase III trial on StaphVAX has a more than 80% probability of success and while Nabi's base business may disappoint near term, suggests any weakness is an opportunity to accumulate shares ahead of the StaphVAX data release in September or October. Nabi shares Wednesday dropped $0.23, or 1.54%, to $14.67 on volume of 1,326,606 shares versus the three-month running average of 619,735.

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