analysts and calls -- Morgan Stanley Message Board

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Biotech / Medical : analysts and calls -- Morgan Stanley

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To: Icebrg who wrote (10)	5/14/2003 1:22:21 PM
From: Icebrg	Read Replies (2) of 31

3:04 pm Millennium Pharm reiterated Underweight at Morgan Stanley (MLNM) 14.29 +1.80: -- Update -- Although firm expects good news for Velcade to continue the near-term positive momentum in the stock, believes co faces a number of issues including declining collaborative revs and cash burn. Finds it difficult to justify co's $4 bln + valuation, and believes fair value is closer to $9-$10. [Too bad for those who listened to them last October, though]

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