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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (1709)	10/17/2006 4:10:24 AM
From: Icebrg	Read Replies (2) \| Respond to of 1826

MGI Pharma "market perform," target price reduced Monday, October 16, 2006 4:49:58 AM ET JMP Securities NEW YORK, October 16 (newratings.com) - Analyst Charles C Duncan of JMP Securities maintains his "market perform" rating on MGI Pharma Inc (MOGN.NAS), while revising his estimates for the company. The target price has been reduced from $15 to $14. In a research note published on October 13, the analyst mentions that the company has received an approvable letter for its Saforis drug for the treatment of oral mucositis from the FDA. The FDA has requested for an additional Phase III trial, which is expected to result in increased R&D expenses for MGI Pharma in FY07, the analyst says. The company is now expected to file its NDA for Saforis in FY08, JMP Securities adds. The EPS estimate for FY06 has been raised from -$0.46 to -$0.39. The EPS estimate for FY07 has been reduced from $0.44 to -$0.02.