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To: CrayUSA who wrote (97569)	11/4/2003 3:54:45 PM
From: CrayUSA	Read Replies (1) \| Respond to of 208838

15:32 ET ENCY Encysive Pharma target raised to $12 at Brean Murray (6.32 -0.02) Brean Murray reiterates their Strong Buy rating and raises their target to $12 from $9, as firm believes their earlier projections had underestimated the true size of the pulmonary arterial hypertension (PAH) mkt; firm expects the CDC to release in early 2004 a report that more accurately quantifies the U.S. incidence and prevalence of PAH, and they believe the report will suggest that the prevalence is several-fold higher than the current est of 50,000; firm says that ENCY's sitaxsentan is safer and more conveniently administered than Tracleer, and there is clinical precedent to believe that it will prove more efficacious than Tracleer in ENCY's STRIDE II pivotal Phase III trial, for which they expect results in Q4 2004.