Dutton Associates Announces Investment Opinion: Neurobiological Technologies Strong Speculative Buy Rating Maintained in Updated
November 13 2006 - 12:00PM
Business Wire
Dutton Associates updates its coverage of Neurobiological
Technologies (Nasdaq: NTII) maintaining a Strong Speculative Buy
rating and a 12-month target price of $8. The 11-page report by
Dutton senior analyst William R. Prather, R.Ph., M.D. is available
at www.jmdutton.com as well as from First Call, Bloomberg, Zacks,
Reuters, Knobias, and other leading financial portals. We believe
Neurobiological Technologies, Inc.'s previously announced departure
of the Company�s CFO and the announced restatement of its financial
statements for fiscal 2005 and the first three quarters of fiscal
2006 has put pressure on the Company�s common stock. If
speculative, risk tolerant investors believe, as we do, that
Viprinex� will achieve success in its clinical trials for the
indication of ischemic stroke, then the weakness in the value of
this Company has provided an excellent opportunity for these
investors to accumulate shares. However, we want to emphasize that
we believe the relative success or failure of an investment in NTI
rests on the results of the Viprinex trials with some protection on
the downside being afforded by the growing royalty revenue from
Memantine. At Neurobiological Technologies' current market value,
we believe the upside of an investment in the Company outweighs the
potential downside from negative results from the Viprinex trials.
If Viprinex�s clinical trials are successful, we believe an
eventual market capitalization for Neurobiological Technologies in
the $0.5 billion range is reasonable. We are reiterating our
investment rating on the shares of the Company as a Strong
Speculative Buy with a 12-month price target of $8.00. About Dutton
Associates Dutton Associates is one of the largest independent
investment research firms in the U.S. Its 31 senior analysts are
primarily CFAs and have expertise in many industries. Dutton &
Associates provides continuing analyst coverage of over 140
enrolled companies, and its research, estimates, and ratings are
carried in all the major databases serving institutions and online
investors. The cost of enrollment in our one-year continuing
research program is US $35,000 prepaid for 4 Research Reports,
typically published quarterly, and requisite Research Notes. Dutton
Associates received $71,000 from the Company for 12 Research
Reports with coverage commencing on 5/13/02. The Firm does not
accept any equity compensation. Our principals and analysts are
prohibited from owning or trading in securities of covered
companies. The views expressed in this research report accurately
reflect the analyst's personal views about the subject securities
or issuer. Neither the analyst's compensation nor the compensation
received by us is in any way related to the specific ratings or
views contained in this research report or note. Please read full
disclosures and analyst background at www.jmdutton.com before
investing. Dutton Associates updates its coverage of
Neurobiological Technologies (Nasdaq: NTII) maintaining a Strong
Speculative Buy rating and a 12-month target price of $8. The
11-page report by Dutton senior analyst William R. Prather, R.Ph.,
M.D. is available at www.jmdutton.com as well as from First Call,
Bloomberg, Zacks, Reuters, Knobias, and other leading financial
portals. We believe Neurobiological Technologies, Inc.'s previously
announced departure of the Company's CFO and the announced
restatement of its financial statements for fiscal 2005 and the
first three quarters of fiscal 2006 has put pressure on the
Company's common stock. If speculative, risk tolerant investors
believe, as we do, that Viprinex(TM) will achieve success in its
clinical trials for the indication of ischemic stroke, then the
weakness in the value of this Company has provided an excellent
opportunity for these investors to accumulate shares. However, we
want to emphasize that we believe the relative success or failure
of an investment in NTI rests on the results of the Viprinex trials
with some protection on the downside being afforded by the growing
royalty revenue from Memantine. At Neurobiological Technologies'
current market value, we believe the upside of an investment in the
Company outweighs the potential downside from negative results from
the Viprinex trials. If Viprinex's clinical trials are successful,
we believe an eventual market capitalization for Neurobiological
Technologies in the $0.5 billion range is reasonable. We are
reiterating our investment rating on the shares of the Company as a
Strong Speculative Buy with a 12-month price target of $8.00. About
Dutton Associates Dutton Associates is one of the largest
independent investment research firms in the U.S. Its 31 senior
analysts are primarily CFAs and have expertise in many industries.
Dutton & Associates provides continuing analyst coverage of
over 140 enrolled companies, and its research, estimates, and
ratings are carried in all the major databases serving institutions
and online investors. The cost of enrollment in our one-year
continuing research program is US $35,000 prepaid for 4 Research
Reports, typically published quarterly, and requisite Research
Notes. Dutton Associates received $71,000 from the Company for 12
Research Reports with coverage commencing on 5/13/02. The Firm does
not accept any equity compensation. Our principals and analysts are
prohibited from owning or trading in securities of covered
companies. The views expressed in this research report accurately
reflect the analyst's personal views about the subject securities
or issuer. Neither the analyst's compensation nor the compensation
received by us is in any way related to the specific ratings or
views contained in this research report or note. Please read full
disclosures and analyst background at www.jmdutton.com before
investing.
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