JMP reiterates NeoPharm at strong buy

NeoPharm Inc. was reiterated at strong buy with a $19 target price by JMP Securities analysts Charles C. Duncan and Anthony Ostrea after the company reported a loss of $0.45 per share, more than JMP's $0.36 estimate. Despite the strained optics, JMP said the company provided a positive update on its lead products and appointed new chief executive officer Guillermo Herrera, removing a significant overhang. Therefore, they view NeoPharm's price as a compelling entry point for investors willing to stomach a potential near-term dilution. Shares of the Lake Forest, Ill.-based biotechnology were down $0.44, or 4.84%, at $8.65 on volume of 472,661 shares versus the three-month running average of 301,506 shares.

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