Abgenix, Inc. (ABGX) Message Board

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Biotech / Medical : Abgenix, Inc. (ABGX)

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From: Icebrg	10/22/2004 1:27:38 AM
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Abgenix initiated with "neutral weight" - update Thursday, October 21, 2004 2:56:41 AM ET Prudential Financial NEW YORK, October 21 (newratings.com) - Analyst Jason Zhang of Prudential Financial initiates coverage of Abgenix Inc (ABGX.NAS) with a "neutral weight" rating. The target price is set to $13.00. In a research note published yesterday, the analyst mentions that the company's key product, ABX-EGF, is being co-developed by Amgen and is undergoing Phase III trials. The analyst expects the drug to receive FDA approval in 2006 and its sales to reach $643 million by 2012. Prudential Financial believes that ABX-EGF would drive the company's stock performance in the near future.

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