Biogen Message Board - Msg: 6963891

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Biotech / Medical : Biogen

BIIB 186.00

-0.5%

Jan 8 3:59 PM EST

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To: Vector1 who wrote (809)	12/24/1998 12:26:00 PM
From: Beltropolis Boy	of 1686

RESEARCH ALERT - EVEREN recommends buying Biogen CHICAGO, Dec 24 (Reuters) - EVEREN Securities said Thursday it viewed the sell-off in shares of Biogen Inc. <BGEN.O> as a buying opportunity and would be "aggressively" purchasing shares at current levels. Biogen shares fell sharply Wednesday after the surprise news that James Tobin would resign as chief executive officer. The stock closed at 79-13 on Nasdaq, down 7-1/16. It was down as much as 16-2/16 during the day. EVEREN says Biogen is a profitable biotechnology company that is marketing the leading treatment for multiple sclerosis, receives royalty revenues from four compounds, and has several promising products in clinical development. "We view investors as overreacting to the news, as it blindsided everybody on the street, and would be aggressively buying shares," EVEREN said in a report. It has the stock rated outperform on both an intermediate and long-term basis.

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