Biotechnology stocks fell on Friday, led by Amgen Inc.(NASDAQ:AMGN), which lost $5.88 a share to $53.88.
Smith Barney analyst Denise Gilbert said she lowered her 1993,'94 and '95 earnings estimate on the company by, respectively,10 cents a share to $2.65, 20 cents a share to $3.45, and 35cents a share to $4.50. She maintained a "buy" rating on thestock, however. Also, Mabon Securities analyst James Keeneydowngraded his rating on Amgen to "sell" from "hold," citing"dismay" over the apparent slowing of product sales.
Other stocks shedding more than $2 a share were Synergen Inc.(SYGN), off $3.38 to $51.25; SyStemix Inc. (STMX), down $2.50 ashare to $20.25; CellPro Inc. (CPRO), off $2.50 a share to $16.75;and Genzyme Corp. (GENZ), down $2.25 a share to $34.50.
The AMEX Biotechnology Stock Index fell 4.27 points to 141.24,and the Chicago Board Option Exchange Biotech Index wasdown 4.72 points to 133.76.
(c) 1997 American Health Consultants. All rights reserved.