Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Biogen -- Ignore unavailable to you. Want to Upgrade?

To: William Partmann who wrote (1097)	7/29/1999 10:06:00 AM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 1686

another one, william. fwiw ... ----- RESEARCH ALERT - Biogen begun at buy July 28, 1999 07:01 PM CHICAGO, July 28 (Reuters) - Gruntal & Co. said Wednesday that it initiated coverage of drug maker Biogen Inc. with a buy rating, saying the market is underestimating the potential of two of the drugs being developed. "We see a potential broadening of the product base to generate $1 billion from the potential blockbusters, Amevive and Antova, advancing in the research pipeline," Gruntal said in a research report. Amevive is a potential psoriasis treatment and Antova is an immunomodulator. The 12-month price target for Cambridge, Mass.-based Biogen is $83, Gruntal said. The earnings estimate for 1999 is $1.36, up from $0.90 in 1998, Gruntal said. Biogen shares added 1/2 to 69-15/16. "Biogen is a rare biotechnology company that has successfully developed and delivered valuable product to the market and is generating a rapid stream of profits," Gruntal said. "Moreover, a rich pipeline should propel growth for years to come."