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

To: Icebrg who wrote (2165)	7/23/2004 2:23:44 PM
From: Icebrg	Respond to of 3044

Millennium Pharmaceuticals "neutral," estimates reduced Friday, July 23, 2004 7:23:08 AM ET Robert W. Baird NEW YORK, July 23 (New Ratings) - Analysts at Robert W Baird maintain their "neutral" rating on Millennium Pharmaceuticals Inc (MLNM.NAS), while reducing their estimates for the company. The target price is set to $17. In a research note published this morning, the analysts mention that the company declared its Q2 non-GAAP EPS marginally ahead of the estimates. The upside was driven by high strategic alliance revenues and low expenses during the quarter, the analysts say. Robert W Baird expresses its concern regarding the dependence of Millennium Pharmaceuticals on the commercial prospects of Velcade, since the sales of Integrilin have been consistently sluggish. The EPS estimate for 2004 has been reduced from -$0.50 to -$0.57.