Bioscience stocks ended the week mixed, but the AMEXBiotechnology Index gained 3 percent overall and is up morethan 5 percent in the month. The index gained 0.27 points to151.37 on Friday.
Chiron Corp. (NASDAQ:CHIR) rebounded $1.75 to $47.25 afterOppenheimer & Co. analyst Jeffrey Casdin recommendedpurchase of the stock "with extra emphasis."
Casdin, who put a $50-per-share breakup value on thecompany, cited the "unexpected potential" for near-termcontributions from its beta-interferon treatment for multiplesclerosis and two treatments for septic shock. The sepsisproduct line "suddenly thrusts Chiron into the lead withSynergen in the septic shock sweepstakes," he wrote.
"Chiron is the only stock besides Amgen to warrant inclusion inconservatively managed portfolios," Casdin said.
MedImmune Inc. (NASDAQ:MEDI) gained back 25 cents to $23after diving $5.75 Thursday on announcing lower-than-expected sales of CytoGam.
(c) 1997 American Health Consultants. All rights reserved.