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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: scaram(o)uche who wrote (386)3/5/1997 2:02:00 PM
From: Old Fox   of 6136
 
In a PaineWebber report dated 2/24, Douglas Lind says the recent selloff in Agouron was unwarranted and gives the stock a 1 Rating. He states, "We have revisted the Agouron story in light of these market concerns and continue to have strong conviction in the commercial potential of its lead product VIRACEPT. Thus, we continue to advise aggressive accumulation of AGPH shares during periods of unfounded negative market perceptions. YE97 price target $140." On another note, Agouron's IR Dept. told me on 2/24 they were never scheduled for an FDA Advisory Panel meeting on the 21st. The FDA felt the advisory panel step was not necessary as there were other PI drugs previously approved. The company anticipates FDA approval by the end of Q1 - beginning of Q2. If this happens, it would give them almost a year's head start over Vertex.
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