CV Therapeutics (Nasdaq: CVTX) Upgraded to BUY by Independent Researcher White Mountain Capital
December 12 2003 - 8:45AM
PR Newswire (US)
CV Therapeutics (Nasdaq: CVTX) Upgraded to BUY by Independent
Researcher White Mountain Capital NANUET, N.Y., Dec. 12
/PRNewswire-FirstCall/ -- White Mountain Capital, a provider of
independent research on select biotechnology companies, today
upgraded its rating of CV Therapeutics to BUY from its initial HOLD
rating issued in October. "The recent decline in stock price
resulting from the FDA's review of ranolazine makes this a
significantly undervalued company at these levels," said Oren Levy,
M.D., Ph.D., the Director of Biotechnology Research at White
Mountain Capital. "We believe that ranolazine will still reach the
market, gaining regulatory approval in 2006. We think the current
stock price reflects the needed additional trials." Dr. Levy said
that despite the company's missteps in communicating with the
investment community, CV Therapeutics is an excellent company with
three promising drug candidates, ample financial resources and a
capable management team. For a copy of the report, call toll-free
866-833-5300 during market hours. For more White Mountain Capital
research titles, visit http://www.whitemountaincapital.com/. About
White Mountain Capital White Mountain Capital is a full-service
broker-dealer in New York. Through its Biotechnology Research
Department, the firm issues independent research on select biotech
companies. The department's director, Oren Levy, M.D., Ph.D., is
completing his residency at Cornell Medical Center, after earning
his Ph.D. in neuroscience from Emory University, where he earned
numerous scholarships and research awards. Dr. Levy employs a
proprietary research methodology whereby ratings are based strongly
on the viability and medical necessity of companies' pipeline
projects. CRD #104123. DATASOURCE: White Mountain Capital CONTACT:
Renee Luchkiw of White Mountain Capital, +1-845-623-5959, Web site:
http://www.whitemountaincapital.com/
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