Advanced Magnetics at buy by Jefferies

Jefferies & Co., Inc. analyst Adam Walsh rated Advanced Magnetics, Inc. at a buy with a $73 price target after the company announced that the ferumoxytol Data Safety Monitoring Board had met for the fourth time, recommending the phase 3 trials continue without modification. According to the analyst, enrollment for the second pre-dialysis study should be completed by year-end, with results in the first-quarter 2007. Shares of the Cambridge, Mass.-based pharmaceutical products company were up $1.39, or 3.61%, at $39.91. (Nasdaq: AMAG)

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