Jefferies says Advanced Magnetics still a buy

Advanced Magnetics was maintained by Jefferies & Co., Inc. analyst Adam A. Walsh at a buy rating with a $12 price target after the company appointed Brian J.G. Pereira, a highly regarded nephrologist, as president. Jefferies said it expects New Drug Applications for ferumoxytol in both CKD and dialysis in mid-2007. Ferumoxytol should be approved, Jefferies said. Shares of the Cambridge, Mass., company that develops and commercializes superparamagnetic iron oxide nanoparticles used in pharmaceutical products were down 1 cent, or 0.11%, at $9.10 on volume of 23,400 shares versus the three-month running average of 9,145.45 shares.

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