analysts and calls -- Morgan Stanley Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : analysts and calls -- Morgan Stanley

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: scaram(o)uche who wrote (9)	10/16/2002 12:15:26 PM
From: Icebrg	Read Replies (2) of 31

RESEARCH ALERT-Millenium started as underweight Wednesday October 16, 11:58 am ET NEW YORK, Oct 16 (Reuters) - Morgan Stanley said Wednesday it initiated coverage of Millennium Pharmaceuticals Inc. (MLNM) with an underweight rating, citing pressure on the growth of Integrilin, which helps treat blood clots, and investor focus on the cash burn rate. The company Tuesday reported a wider-than-expected quarterly loss and said it sees a wider loss for the year than it previously forecast because of delays in expected partnership deals. Analyst Steve Harr also cited the unclear outlook for profitability, adding in a research note that the risk to the cash position and profitability may be underestimated. "By our model, the company will lose over $400 million in 2005 with its current business plan, not including any costs for expensing employee stock options," Harr said. "In order to reach profitability, therefore, the company will need to make a significant acquisition, undergo significant cost restructuring, and/or buy a major marketed product." Shares of Millennium closed on Tuesday at $10 on Nasdaq. Comment: (But it started at $8 the following day).

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next