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Biotech / Medical : Biotech Valuation

CRSP 53.47

+0.3%

Nov 28 9:30 AM EST

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From: quidditch	1/5/2006 1:54:25 PM
	of 52153

fwiw, CSFB revises BT ratings and price targets. Interesting that it has raised its target on ABGX--presumably that reflects the state of the existing bid and others to come: Jan 5 (Reuters) - Credit Suisse First Boston on Thursday downgraded the biotechnology sector to "marketweight" from "overweight." The brokerage firm downgraded four companies but raised its rating on Cytokinetics. It also raised or lowered its price targets on several other companies. In a research note, CSFB named Genzyme Corp. (GENZ - news) as its top large-cap pick. The following table lists the brokerage's the rating and price target changes for the companies. Company Rating Price Target Current Prior Current Prior Genentech Inc. (DNA - news) Neutral Outperform $100 -- Biogen Idec Inc. (BIIB - news) Underperform Neutral $44 $42 ImClone Systems Inc. (IMCL - news) Underperform Neutral $31 $33 Theravance Inc. (THRX - news) Underperform Neutral $18 $22 Cytokinetics Inc. (CYTK - news) Neutral Underperform $8 $6 Gilead Sciences Inc. (GILD - news) Neutral $55 $54 MedImmune Inc. (MEDI - news) Neutral $34 $31 Vertex Pharmaceuticals Inc. (VRTX - news) Outperform $33 $30 Neurocrine Biosciences Inc. (NBIX - news) Outperform $73 $65 Icos Corp. (ICOS - news) Outperform $39 $40 Myogen Inc. (MYOG - news) Outperform $40 $34 The brokerage also said it increased its price targets on Myriad Genetics Inc. (MYGN - news), Abgenix Inc. (ABGX - news) while lowereing its price targets on Human Genome Sciences Inc. (HGSI - news), Millennium Pharmaceuticals Inc. (MLNM - news) and Rigel Pharmaceuticals Inc. (RIGL - news). The brokerage did not give details about the price target changes on these companies.

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