XOMA BUSILY GAINS GROUNDXoma Corp. shares (NASDAQ:XOMA) jumped $2 on Wednesdayto $20.25, crossing the $20 threshold for the first time sinceMarch 26. The stock was the most active among bioscienceissues, trading 2 million shares.
Spokeswoman Carol DeGuzman said that Stover Haley & Noyesinitiated coverage with a "buy" rating. According to DeGuzman,Richard Stover foresees FDA approval of two products, E5 forgram-negative sepsis and CD5-Plus for graft-vs.-host disease,in the second half of the year, with a target price of $45 to $50by year-end. E5 has been in limbo since the agency in Aprilsaid it was not approvable based on data from its first clinicaltrial. Second-trial data are being analyzed.
Somatogen Inc. (NASDAQ:SMTG) continued to climb, gaining$2.25 to $30.50, after picking up $1.75 on Tuesday. Thecompany said it had no explanation for the run up, but will bepresenting at an investment conference today.
Elan Corp. plc (AMEX:ELN) gained $1.88 to $49.38. The Athlone,Ireland, company said its board recommended shareholderapproval of a 3-for-2 stock split payable to shareholders ofrecord Aug. 15. The shareholder meeting is July 2.
Other stocks were mixed. The AMEX Biotechnology Indexgained 2.31 to 149.17.
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