Abgenix, Inc. (ABGX) Message Board

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Biotech / Medical : Abgenix, Inc. (ABGX)

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From: Icebrg	9/7/2005 4:44:36 PM
	of 590

Abgenix initiated with "buy" Wednesday, September 07, 2005 1:18:45 PM ET WR Hambrecht & Co NEW YORK, September 7 (newratings.com) - Analyst Patrick E Flanigan III of WR Hambrecht initiates coverage of Abgenix Inc (ABGX.NAS) with a "buy" rating. The 12-month target price is set to $18. In a research note published this morning, the analyst mentions that the company is expected to report positive phase III data from its lead product, panitumumab, which is being developed in partnership with Amgen, during September/October 2005. The analyst expects the peak sales of panitumumab at $1 billion. WR Hambrecht believes that the company would receive the FDA approval for panitumumab during mid-2006.

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