Biotechnology stocks took a small dip on Friday, countering therising trend for most other stock indexes, including the NewYork, NASDAQ Composite and Dow Jones industrial averages.The AMEX Index ended July (160.66) about where it began inJune (160.22) after sinking as low as 136.70 on June 22.
The AMEX Biotechnology Stock Index dropped 0.20 on Fridayto 160.66. The Chicago Board Options Exchange (CBOE) Indexwas down 1.41 to 151.89.
A "buy" recommendation on Applied Biosystems Inc. fromMerrill, Lynch analyst Stuart Weisbrod helped move thatcompany's stock (NASDAQ:ABIO) up $1.25 a share on Friday to$15.25.
The effect appeared contagious. Similarly sounding butcorporately separate Applied Bioscience International Inc.(APBI) and Applied Immune Sciences Inc. (AISX) both gained a$1.25 a share on Friday to $13.75 and $17, respectively.
Among declining issues were Gensia Pharmaceuticals (GNSA),which fell $3 a share to $42.75; Somatogen (SMTG) down $2 to$21.50; and Synergen (SYGN), which declined $1.75 to $50.25.
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