IDPH--Positive preliminary results for pivotal trial of ID Message Board

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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID

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To: Howard Hoffman who wrote (1287)	10/1/1997 3:54:00 AM
From: jay silberman	of 1762

From Briefing.com: IDEC PHARMACEUTICALS (IDPH) 41 1/2 +4 1/2. Shares of this immunotherapies developer have been ignited by the bullish outlook issued by Merrill Lynch analyst Eric Hecht, who, this morning, upgraded the shares from near- and long-term ratings of "accumulate" to "buys." In addition, the firm named IDPH its "Focus One" stock of the week. The move is based on what Mr. Hecht expects to be an extremely successful launch of the company's lead product for lymphoma, Rituxin, which the analyst expects to be approved by the FDA and launched by year-end. Based on his projection that Rituxin will be marketed for the treatment of 135,000 patients with relapsed or refractory low-grade non-Hodgkin's lymphoma at between $8,000 and $12,000 per year, Mr. Hecht is forecasting 1998 earnings of $0.50 a share (vs previous estimate of $0.05), 1999 EPS of $1.50 a share, and 1999 results of $2.25 a share. The analyst's 12-month price target of $53 (upside 28%) is based on an earnings multiple of 35x his 1999 estimate.

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