Pharmacyclics Price Target Cut On Higher Spending

By | September 8, 2014

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Biotech Pharmacyclics (PCYC) got a price-target cut from Nomura on Monday, but the investment bank maintained a buy rating on Pharmacyclics stock, saying the company’s competitive position remains strong. Pharmacyclics stock was flat in midday trading on the stock market today, near 118.50. Nomura analyst Ian Somaiya wrote in a research note that after meeting with management, he is raising his forecast for the company’s expenses due to higher Scalper1 News

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