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Biotech / Medical : Oscient Pharmaceuticals Corp. (OSCI)
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To: Chip McVickar who wrote (881)5/24/2001 12:41:25 AM
From: Chip McVickar  Read Replies (2) of 1154
 
1 Genome Therapeutics soars on analyst report


NEW YORK, May 23 (Reuters) - Shares of Genome Therapeutics Corp. <GENE.O> rose 42.1 percent on Wednesday following the release of a positive research report by Ladenburg Thalmann analyst Albert Rauch.

Rauch rates the shares a strong buy and predicts they will rise to $84 within 12 months. The report sent Genome Therapeutics' shares soaring $4.00 to close at $13.50.

"We are recommending the purchase of Genome Therapeutics because it is a leader in using pathogen genomes to find anti-infective drugs," Rauch said in the report. "We expect this expertise to lead to the discovery of several anti-infective agents with markets approaching $1 billion."

The Ladenburg Thalmann report comes less than a week after Jonathan Aschoff, an analyst at Friedman Billings Ramsey and Co., initiated coverage on the stock with an accumulate rating and a 12-month price target of $10 a share.

Genome Therapeutics develops genomics-based therapeutics, vaccines, and diagnostics in partnership with big drug companies such as Schering-Plough Corp. <SGP.N> and AstraZeneca <AZN.ST> <AZN.L>. The company also provides gene sequencing and other services for drug companies.

18:38 05-23-01
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