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Biotech / Medical : ANDRX (ADRX) -- Ignore unavailable to you. Want to Upgrade?

To: Dave K who wrote (113)	2/23/2000 3:24:00 PM
From: Dave K	Read Replies (1) \| Respond to of 127

RESEARCH ALERT - Gruntal raises Andrx price target NEW YORK, Feb 23 (Reuters) - Gruntal & Co. said Wednesday it raised its price target on shares of generic drug maker Andrx Corp. (NasdaqNM:ADRX - news), noting that the company's growth is among the highest in its sector. --A team of Gruntal analysts, led by Jeffrey Kraws, boosted the firm's target price on Andrx stock to $100 a share in the intermediate term from $86 a share. On a long-term basis, Gruntal raised its target to $112 from $96. --Gruntal highlighted last week's announcement that Andrx filed an abbreviated new drug application for a once-a-day antihistamine as evidence that the company's pipeline of new products continues to gain strength. --``While this was a positive event, Andrx's biggest opportunity lies in the expected launch in October 2001, with potential six months of exclusivity, of its generic version of ulcer drug Prilosec, the world's largest selling drug at over $3 billion in U.S. sales,' Gruntal said in a research report. ``We believe this event is not fully reflected in the stock price' or in Wall Street's consensus estimate for Andrx's earnings, Gruntal said. Analysts expect Andrx to post earnings of $1.29 per share in 2000, according to research firm First Call/Thomson Financial. --Shares of Andrx gained 3 to 87-7/8 at midday Wednesday, off a year high of 93 but up from a low of 29-5/8.