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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (4691)	7/2/1998 12:56:00 AM
From: Vector1	Respond to of 6136

Speaking of analysts Mike King of Vector Securities posted an excellent note on Vertex and AGPH on First Call tonight from the Geneva conference. The title of the note was" Protease Inhibitors are Dead-- NOT". In summary he argued that the market has massively overreacted to the Sustiva data and that PI's will continue to grow in sales. He has a nuetral on AGPH notwithstanding stating that Viracept is the clear winner among PIs because of its activity, ease of use and benign side effect profile. The reason for the hold is three fold. First from a trading standpoint he believes that the Sustiva overreaction will continue for some time. Secondly AGPHs recent deals will destroy their short term earnings outlook even though the deals are promising and strategic. Thirdly and most importantly he firmly does not believe Immune Response's Remune will show convincing data and will never reach its clinical endpoint. He notes that if the data is better than expected at the conference or new data is released later in the year he would change his rec on the stock. V1