MGI Pharma kept at buy, Merrill says

MGI Pharma, Inc. was maintained at buy by Merrill Lynch analysts Eric J. Ende, David W. Munno and Thomas J. McGahren on news the company received an approvable letter for Dacogen, its MDS treatment, which is expected to receive approval three to nine months later than expected. Merrill reduced the company's target price to $30.00 from $31.00 based on lower earnings-per-share estimates. MGI Pharma shares closed down $0.64, or 2.37%, at $26.40 on Friday on volume of 3,801,217 shares versus a three-month trailing average of 1,316,130 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.