Tercica "neutral"

05/25/07 - Robert W. Baird

NEW YORK, May 25 (newratings.com) - Analysts at Robert W Baird reiterate their "neutral" rating on Tercica Inc (TRCA). The target price is set to $7.

In a research note published this morning, the analysts mention that under Tercica’s agreement with Genentech, the former company is required to file an NDA for Increlex for the treatment of diabetes or another important indication by 2008. Although Tercica has not disclosed any ongoing trials for Increlex, the company is expected to resolve the issue going forward by either submitting for an NDA by using the trial data collected by Genentech or negotiating a settlement with the latter company, the analysts say.