MGI Pharma MOGN New patents, anti cancer Message Board

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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer

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To: Icebrg who wrote (1512)	8/29/2004 3:56:16 PM
From: Icebrg	Read Replies (1) of 1826

MGI Pharma "market outperform," target price reduced Wednesday, August 11, 2004 2:35:22 PM ET JMP Securities NEW YORK, August 11 (New Ratings) - Analysts at JMP Securities reiterate their "market outperform" rating on MGI Pharma Inc (MOGN.NAS). The target price has been reduced from $37 to $31. In a research note published this morning, the analysts mention that a proposal for the Medicare outpatient payment rates for hospitals was announced by the CMS yesterday. MGI Pharma’s share price declined by 9% following the announcement, the analysts say. The proposal is relevant to only a small market segment of the company’s anti-nausea drug, Aloxi, according to JMP Securities. The drug’s prospects remain compelling and the proposal may be changed, the analysts point out.

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