MEDX ... anybody following? Message Board

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Biotech / Medical : MEDX ... anybody following?

MEDX 31.58

+1.4%

12:44 PM EST

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To: Icebrg who wrote (1905)	2/27/2008 5:11:36 PM
From: Icebrg	of 2240

Medarex "underperform," target price reduced 12:20p.m. - RBC Capital Markets NEW YORK, February 27 (newratings.com) - Analysts at RBC Capital Markets reiterate their "underperform" rating on Medarex Inc (MEDX), while reducing their estimates for the company. The target price has been reduced from $15 to $10. In a research note published this morning, the analysts mention that the company has posted its 4Q EPS marginally ahead of the estimates, with increased revenues partly offset by higher R&D expenses. Medarex and Bristol are unlikely to file the BLA for Ipilimumab in second-line metastatic melanoma during 1H08, the analysts add. The downward revision in the target price reflects the unlikely approval of Ipilimumab during 2008, RBC Capital Markets says. The EPS estimates for 2008 and 2009 have been reduced from -$1.32 to -$1.47 and from -$0.71 to -$0.89, respectively.

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