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MGI Pharma price target cut by Merrill
MGI Pharma Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating but the price target on the stock was reduced to $28 per share from $30 following MGI Pharma lowering its guidance on the anti-emetics drug Aloxi to $250 million to $260 million from $260 million for 2005. MGI Pharma shares Wednesday were down $0.15, or 0.66%, at $22.75 on volume of 2,761,426 shares versus the three-month running average of 1,292,280 shares.
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