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

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To: Icebrg who wrote (1793)10/22/2007 6:36:41 AM
From: Icebrg  Read Replies (1) of 1826
 
MGI Pharma "neutral," target price raised

Thursday, October 18, 2007 1:32:00 PM ET
Robert W. Baird

NEW YORK, October 18 (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 $27 to $30.

In a research note published this morning, the analysts mention that the company has posted its 3Q07 non-GAAP EPS significantly ahead of the estimates and the consensus. Sales of Aloxi improved sequentially in the quarter and MGI Pharma has guided to a further 10% sequential growth in Alozi sales for 4Q. The company's Dacogen sales were ahead of the consensus and the guidance, Robert W Baird adds. The EPS estimates for 2007 and 2008 have been raised from $0.61 to $0.74 and from $0.81 to $1.17, respectively.
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