MGI Pharma MOGN New patents, anti cancer Message Board

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

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From: Icebrg	7/20/2006 6:42:18 AM
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MGI Pharma downgraded to "neutral" Thursday, July 20, 2006 4:00:18 AM ET Robert W. Baird NEW YORK, July 20 (newratings.com) - Analysts at Robert W Baird downgrade MGI Pharma Inc (MOGN.NAS) from "outperform" to "neutral," while reducing their estimates for the company. The target price has been reduced from $27 to $18. In a research note published this morning, the analysts mention that the company has reported its 2Q non-GAAP EPS significantly short of the consensus and the estimates. MGI Pharma has reduced its Aloxi guidance for FY06 from $285-$300million to $250-$270 million. The company has reduced its operating income guidance for FY06 from a profit of $17-$30 million to a loss of $15-$30 million. The EPS estimates for 2006 and 2007 have been reduced from $0.18 to -$0.23 and from $0.77 to $0.55, respectively.

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