Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for OSI Pharmaceuticals Inc. > News item |
Merrill Lynch lowers price target for OSI
The price target on OSI Pharmaceuticals Inc. was lowered by Merrill Lynch analyst Eric Ende to $34 from $51. The buy rating was maintained. Merrill Lynch said the lowered price was based on the discontinuation of Tarceva by partner Genentech after a phase II trial showed Avastin and Tarceva combined was not better than Avastin alone in treating kidney cancer, eliminating $100 million in new sales potential for Tarceva. Shares of the Melville, N.Y.-based biopharmaceutical company were down $2.12, or 8.25%, at $23.57 on volume of 3,464,962 shares versus the three-month running average of 2,555,970 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.