Abgenix, Inc. (ABGX) Message Board

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Biotech / Medical : Abgenix, Inc. (ABGX)

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From: Icebrg	7/8/2005 12:12:19 PM
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Abgenix initiated with "neutral" - update Friday, July 08, 2005 10:06:07 AM ET Banc of America NEW YORK, July 8 (newratings.com) - Analyst David Witzke of Banc of America Securities initiates coverage of Abgenix Inc (ABGX.NAS) with a "neutral" rating. The 12-month target price is set to $9. In a research note published this morning, the analyst mentions that there is limited opportunity for ABX-EGF in the colorectal cancer (CRC) market in the near term. According to the analyst, Abgenix's ABX-EGF product has the potential to turn into a blockbuster drug, since the FDA has validated the targeting of the EGFr market in the non-small cell lung cancer market.

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