RBC stops coverage of SciClone with sector perform rating

RBC Capital Markets will no longer cover SciClone Pharmaceuticals, Inc. and gives the company a final rating of sector perform with a $2 price target. Following disappointing results from the first of two pivotal trials evaluating Zadaxin in hepatitis C, SciClone moved into a transition period as it tries to refocus on other opportunities, according to analyst Douglas Miehm. Shares of the San Mateo, Calif.-based biopharmaceutical company were up 6 cents, or 2.30%, at $2.67 on volume of 321,837 shares versus the three-month running average of 400,854 shares. (Nasdaq: SCLN)

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