""Tuesday, July 11, 2000, Xoma soars on initiation
--10:49 am - By Michael Baron
Xoma Ltd. (XOMA: news, msgs) is getting a huge lift from US Bancorp Piper Jaffray's decision to initiate coverage of the Berkley, Calif., biopharmaceutical firm with a "strong buy" rating and a two-year price target of $14 a share. Xoma is topping the percentage gainers on the Nasdaq, adding 1 7/16, or 33.8 percent, to 5 11/16 on heavy volume of 3 million shares. Average daily volume is 1.37 million shares. US Bancorp Piper Jaffray also started coverage of a number of other companies in the healthcare sector. In addition to Xoma, analyst Mark Augustine initiated coverage of Immunex (IMNX: news, msgs) with a "buy" rating and Genentech (DNA: news, msgs) with a "strong buy" rating. Analyst Cynthia Glass also made a number of calls. She started coverage of Mylan Laboratories (MYL: news, msgs) with a "neutral" rating, Jones Pharmaceuticals (JEMD: news, msgs) with a "buy" rating, Forest Laboratories (FRX: news, msgs) with a "strong buy" rating, Andrx Corp. (ADRX: news, msgs) with a "strong buy" rating, and Barr Laboratories (BRL: news, msgs) with a "buy" rating.""
The reason for the season! Now, there is a nice exit point here! This seems to be the exit point for the last chunk of shares offered at $5.5, with USBPiperjaffray leading for Sutro! How they could do it is just plain amazing! Nice Job. |
