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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To: Icebrg who wrote (1767)	10/21/2007 4:48:59 AM
From: Icebrg	Read Replies (2) of 1826

MGI Pharma "buy," target price raised - update Friday, October 19, 2007 3:11:22 AM ET Lazard Capital Markets NEW YORK, October 19 (newratings.com) - Analysts at Lazard Capital maintain their "buy" rating on MGI Pharma Inc (MOGN.NAS), while revising their estimates for the company. The target price has been raised from $35 to $42. In a research note published yesterday, the analysts mention that the company has reported its 3Q07 non-GAAP EPS ahead of the estimates due to lower-than-expected SG&A expenses and reported taxes. Both Aloxi and Dacogen generated robust sales growth, the analysts say. MGI Pharma has signed a licensing agreement with AkaRx to develop AKR-501, the Dacogen Phase III survival data in MDS is scheduled for 2Q08 and the approval and launch of Aquavan is expected in 3Q08, Lazard Capital adds. The EPS estimate for 2007 has been reduced from $0.93 to $0.82. The EPS estimate for 2008 has been raised from $1.20 to $1.45. newratings.com

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