Millennium Pharmaceuticals, Inc. (MLNM) Message Board

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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)

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From: Icebrg	10/27/2005 9:50:24 AM
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Millennium Pharmaceuticals "neutral," target price reduced Thursday, October 27, 2005 6:42:59 AM ET Robert W. Baird NEW YORK, October 27 (newratings.com) - Analysts at Robert W Baird reiterate their "neutral" rating on Millennium Pharmaceuticals Inc (MLNM.NAS), while reducing their estimates for the company. The target price has been reduced from $10 to $9. In a research note published this morning, the analysts mention that the company has posted its 3Q05 EPS ahead of the estimates and the consensus, driven by lower-than-anticipated expenses. The revenue estimates for Velcade for 4Q05 and 2006 have been reduced from $66 million to $55 million and from $324 million to $275 million, respectively, since the uptake in the front-line multiple myeloma setting is likely to have stalled. The EPS estimates for 2006, 2007 and 2008 have been reduced from $0.03 to -$0.03, from $0.33 to $0.18 and from $0.47 to $0.26, respectively.

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