Vista Partners Updates Coverage on Pro-Pharmaceuticals, Inc.; Maintains $1.95 Target Price

LOS ANGELES, May 13 /PRNewswire/ -- Vista Partners announced today that it has updated coverage on Pro-Pharmaceuticals, Inc. (OTC Bulletin Board: PRWP) and maintains its twelve month target price of $1.95. Ross Silver, Principal Analyst at Vista Partners stated, "Despite the significant increase in the share price since our initiation of coverage in February, we continue to believe Pro-Pharmaceuticals remains undervalued. The signing of the agreement with PROCAPS S.A. is a major step towards possible approval for DAVANAT® in South America which we anticipate could occur in the second half of 2010. As we stated in our initiation, we believe Pro-Pharmaceutical's lead compound, DAVANAT®, will revolutionize oncology. DAVANAT® could potentially enhance the efficacy of already approved oncology drugs while also reducing the side effect profile of these drugs. By doing so, patients potentially will live longer and live better." To download a FREE copy of the Pro-Pharmaceuticals, Inc. research report, please click on this link or visit www.vistap.com and click on the "Download Research" Icon.

About Vista Partners:

With offices in California and Oregon, Vista Partners LLC is one of the fastest growing independently owned equity research and consulting firms in the United States. Vista Partners professional staff has backgrounds in finance, corporate communications and investment banking. Vista Partners has built a name for itself in the small cap space due to its selection of profitable investment recommendations.

SOURCE Vista Partners