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	7/17/2007 1:50:11 AM
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MGI Pahrma "neutral," target price raised Monday, July 16, 2007 2:58:05 AM ET Robert W. Baird NEW YORK, July 16 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on MGI Pharma Inc (MOGN.NAS), while raising their estimates for the company. The target price has been raised from $19 to $26. In a research note published this morning, the analysts mention that notwithstanding the earlier projections, Aloxis' market share has expanded from the low-40% range to 46% since 2H06 and the drug's sales are expected to grow further in 2Q07. Contrary to prior expectations, the migration to generic 5-HT3's is unlikely in 2007, the analysts say. The EPS estimates for FY07 and FY08 have been raised from $0.29 to $0.36 and from $0.62 to $0.65, respectively.

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