PharmAthene started at Buy

|By:, SA News Editor

H.C. Wainwright initiates coverage of PhamAthene (PIP) with a Buy rating and $4 price target.

Bullish outlook based mainly on a successful outcome of its litigation with SIGA Technologies over the small pox antiviral product Arestvyr.

Shares currently trade at $1.95.

19 mutual funds have positions, up from 15 a year earlier.