By: Benzinga
UPDATE: Aegis Capital Initiates PharmAthene at Buy; Enterprise Undervalued
Aegis Capital initiated coverage on PharmAthene (NYSE: PIP ) with a Buy rating and a $6.00 price target. Aegis Capital commented, "We believe that PharmAthene's current enterprise value of roughly $50mm neither gives adequate credit to the company's own proprietary pipeline nor appropriately values the potential for significant revenues from
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