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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: BadMan who wrote (802)6/10/1997 12:10:00 AM
From: jay silberman   of 6136
 
From Briefing.com:

AGOURON PHARMACEUTICALS (AGPH) 85 3/4 +2 3/16. Pharmaceutical concern that develops drugs for cancer and AIDS related diseases is moving higher today after Alex. Brown reiterated its "strong buy" rating. The firm also raised its projections for the 4th qtr to a loss of $0.19 a share versus a projected loss of $0.37 a share as sales of its Viracept drug, an HIV protease inhibitor, are stronger than previously forecast. Reorders are also said to be coming in stronger than projected, while the firm feels that the U.S. and worldwide HIV protease inhibitor markets could exceed $1.5 billion and $2.5 billion, respectively, by the year 1999. Accordingly, Alex. Brown has upped its FY98 EPS estimate to $0.50 a share from a net of $0.13 a share. In addition, the firm has raised its 12 month price target by $9 to $118 a share. The strong rating, coupled with the growing perception that its Viracept drug is being well received and helping the company get on the positive side that much quicker, are positives which should help the stock move higher, at least in the short-term. Issue has traded above the $100 mark earlier this year, but recently had been on a down slope, trading below $60 a share in late April before bouncing back. Latest view should help issue continue to rebound.
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