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Biotech / Medical : Elan Corporation, plc (ELN)

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To: Jongmans who wrote (417)	7/20/1999 10:26:00 AM
From: William Partmann	Read Replies (1) of 10345

RESEARCH ALERT - B of A starts pharmaceutical cos NEW YORK, July 20 (Reuters) - Banc of America Securities said Tuesday that analyst Jerry Treppel started coverage of the specialty pharmaceutical sector, initiating coverage on eight companies, all with buy ratings. -- Started Alpharma Inc (NYSE:ALO - news), Andrx Corp. (Nasdaq:ADRX - news), Barr Laboratories (NYSE:BRL - news) and Elan Corp. Plc. (NYSE:ELN - news). Set $92 a share price target on Andrx and $50 target on Barr. Targets for Alpharma and Elan were not immediately available. -- Started Forest Laboratories Inc. (AMEX:FRX - news), Mylan Laboratories Inc. (NYSE:MYL - news), Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVIY - news) and Watson Pharmaceuticals Inc. (NYSE:WPI - news). Set targets of $55 a share on Watson, $69 on Teva, and $40 on Mylan. Forest Labs target not immediately available. -- Alpharma closed at 34-5/16 on Monday. Andrx closed at 67-7/8, Barr Labs closed at 39 and Elan closed at 30-1/8. -- Forest Labs closed at 49-1/16, Mylan closed at 28-13/16, Teva closed at 48-5/8 on Nasdaq and Watson closed at 34-1/8.

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