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

To: Icebrg who wrote (2706)	9/28/2006 5:44:53 PM
From: Icebrg	Read Replies (1) \| Respond to of 3044

Millennium Pharmaceuticals downgraded to "market underperform" Thursday, September 28, 2006 2:24:02 AM ET JMP Securities NEW YORK, September 28 (newratings.com) - Analyst Charles C Duncan of JMP Securities downgrades Millennium Pharmaceuticals Inc (MLNM.NAS) from "market perform" to "market underperform." The target price is set to $8. In a research note published yesterday, the analyst mentions that Millennium Pharmaceuticals’ takeover of AnorMED has raised concerns regarding the transaction value, as well as the strategic fit and clinical risk associated with Anormed’s lead product, Mozobil, for stem cell transplants. The deal is likely to dilutive to Millennium Pharmaceuticals' earnings, the analyst says. The net loss per share estimates for FY06 and FY07 have been raised from $0.28 to $0.33 and from $0.15 to $0.39, respectively, to reflect an increase in R&D and SG&A spending.