Zacks Investment Research upgraded shares of FluoroPharma Md (FPMI) from N/A to OUTPERFORM on November 19, 2012, with a target price of $2.35.
FPMI is looking to capitalize on the rapid growth of PET in cardiac diagnostics. In development are three novel cardiac PET radiopharmaceuticals, two of which could possibly launch within the next five years. Current PET tracers suffer from high cost, safety issues and availability shortages, affording considerable demand for novel radiopharmaceuticals such as FPMI's agents. Company is led by highly qualified management which has done a commendable job with minimizing cash burn while making progress on product development. However, being a development-stage company, an investment in FPMI comes with inherent meaningful risk. We are maintaining our Outperform rating. Our price target has moved from $2.00 to $2.35.
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