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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM) -- Ignore unavailable to you. Want to Upgrade?

To: IRWIN JAMES FRANKEL who wrote (1823)	9/8/2003 8:42:55 PM
From: Ian@SI	Respond to of 3044

IJ, Here's some more light... * 09:16 ET The Medicines Co downgraded at WR Hambrecht (MDCO) 29.81: WR Hambrecht downgrades to Hold from Buy based on the stock's premium valuation (10.1x their 2004 rev est vs the biotech avg of about 8x) ahead of expected good clinical data at the upcoming TCT meeting; even though firm continues to believe that MDCO will report continued non-inferiority to heparin in the 6-month data from the Phase III REPLACE-2 trial, they do not expect the data to translate immediately into explosive sales growth.