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

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From: Icebrg9/28/2005 10:28:44 AM
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MGI Pharma "outperform," estimates reduced

Wednesday, September 28, 2005 8:18:00 AM ET
Robert W. Baird

NEW YORK, September 28 (newratings.com) - Analysts at Robert W Baird reiterate their "outperform" rating on MGI Pharma Inc (MOGN.NAS), while reducing their estimates for the company. The target price is set to $35.

In a research note published this morning, the analysts mention that the company has reduced its FY05 sales guidance for Aloxi from $260 million to $250-$260 million. The lower-end of the new guidance range implies 57% y/y sales growth, the analysts say. The non-GAAP fully taxed EPS estimate for FY05 has been reduced from $0.51 to $0.46.
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