We are maintaining our Neutral recommendation on Ardea Biosciences Inc. (NASDAQ:RDEA) with a target price of $23.00.
Ardea Biosciences, headquartered in San Diego, California, focuses on the discovery and development of small-molecule therapeutics for the treatment of gout and cancer.
Last month, Ardea reported fourth quarter and full year 2011 results. Ardea’s fourth quarter net loss of $1.15 per share exceeded the year-ago loss of 3 cents and the Zacks Consensus loss Estimate of 87 cents. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards