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Shares of Bentley Pharmaceuticals Increases |
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Posted 01 June 2006 @ 11:13 am EET |
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NEW YORK (AP) - Shares of Bentley Pharmaceuticals Inc. gained some lift Wednesday after one investment firm upgraded the specialty drug maker given the attractive price of the stock.
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| Shares of Bentley Pharmaceuticals Inc. gained some lift Wednesday after one ... |
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Bentley shares rose 63 cents, or 5.5 percent, to $12 in midday trading on the New York Stock Exchange. Over the past 52 weeks, shares have risen to a high of $22.90 in January from a low of $10.63 in July.
Raymond James analyst Michael Krensavage upgraded Bentley to "Market Perform" from "Underperform," stating that the company's 30 percent drop in share price since the beginning of the year has made the stock more reasonably valued.
However, the analyst said in a research note that he remains concerned about the company's lack of free cash flow and falling prices for generic drugs in Europe, adding that the development of a nasal insulin may burn significant cash.
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