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Targacept's debut on Wall Street is somewhat underwhelming.
Byline: M. Paul Jackson
Apr. 22--When Targacept Inc. landed on Wall Street last week, the debut didn't go as well as expected.
The company, based in Winston-Salem, set its initial public offering price at $9 a share -- yet finished the first day trading nearly 4 percent below that price. Its share price has continued to drop.
What happened?
A lot, according to technology experts. A market that's still skeptical of up-and-coming medical technologies has made it difficult for companies such as Targacept to get traction on the public market, experts said.
In addition, major investment banks have not begun tracking Targacept's stock, …
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