capital analysts now covering prana

MLV Capital Analysts Now Covering Prana Biotechnology (PRAN) Stock
October 4th, 2011 by ABMN Staff.
Equities research analysts at MLV Capital initiated coverage on shares of Prana Biotechnology (NASDAQ: PRAN) in a research note issued to investors on Tuesday. They set a “buy” rating and a $6.00 price target on the stock.
Prana Biotechnology Limited (Prana) is an Australia-based company engaged in drug development and research. The focus of the Company is to develop disease modifying therapeutics for the treatment of common neurological disorders, with a focus upon Alzheimer’s, Parkinson’s and Huntington’s diseases, specific cancers and age-related macular degeneration. It has developed a platform technology in association with internationally scientists and academic institutions, including The University of Melbourne, Massachusetts General Hospital and The Mental Health Research Institute of Victoria; and its research collaborators are The Buck Institute for Age Research, University of California and University College, London. As of June 30, 2010, the Company held interest in two subsidiaries: Prana Biotechnology Inc and Prana Biotechnology UK Ltd, and Prana’s majority shareholder was National Limited.

Shares of Prana Biotechnology traded up 3.57% during mid-day trading on Tuesday, hitting $1.45. Prana Biotechnology has a 52 week low of $1.13 and a 52 week high of $4.50. The stock’s 50-day moving average is $1.67 and its 200-day moving average is $1.99. The company has a market cap of $40.7 million.