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Biotech / Medical : Aurora Biosciences (ABSC) -- Ignore unavailable to you. Want to Upgrade?

To: sim1 who wrote (208)	9/15/1999 8:26:00 PM
From: Vector1	Read Replies (1) \| Respond to of 359

+DJ Aurora Biosci Up 38%; Trading Sources Cite Merger Rumors Story 3288 =DJ Aurora Biosci Up-2: Elan Cited As Possible Acquirer>ABSC NEW YORK (Dow Jones)--Aurora Biosciences Corp. (ABSC) shares soared as much as 38% Wednesday in a move some trading sources attributed to heightened takeover rumors, possibly involving the Irish drug delivery and biotech company Elan Corp. (ELN). Takeover talk has surrounded Aurora for some time. The popular Web site StockRumors.com, for instance, reported on rumors involving Elan on Sept. 7, citing a bid price of 17 1/2. Other companies speculated as being in merger talks with Aurora include Tripos Inc. (TRPS) and PE Corp. (PEB), one analyst said. Meanwhile BancBoston Robertson Stephens upgraded Aurora to strong buy from buy, citing a boom in the demand for the company's services of providing screening and validation for drug targets. BancBoston analysts also said in a research note that Aurora shares were undervalued in comparison with its peer group. They set a 12-month price target of $13 for Aurora shares, and raised their 2000 earnings estimate to 13 cents a share from 9 cents. Aurora shares recently were up 4, or 33.2%, to 65 1/16 on Nasdaq volume of 2.4 million, compared with average daily volume of 167,200. The shares traded as high as 17 3/8 intraday, passing the 52-week high of 13 7/16 set Tuesday. Company officials weren't immediately available for comment.