Shares of Deprenyl Research Ltd. and its two affiliates,Deprenyl Animal Health Inc. and Deprenyl USA Inc., fell onThursday after a Wedbush Morgan Securities analyst put a"sell" recommendation on Deprenyl Research.
Deprenyl Research (NASDAQ:DEPLF) fell $2.38 to $12.50,Deprenyl USA (NASDAQ:DUSA) was off $3.25 to $28.75, andDeprenyl Animal (NASDAQ:DAHI) lost 38 cents to $5.75.
The Toronto company said it is "unaware of any situation thatshould prompt such a radical and unsupported opinion. Indeed,no conversations whatsoever were held with the company bythe author of this surprising recommendation."
The securities firm did not return calls for comment.
Seattle-based Immunex Corp. (NASDAQ:IMNX) fell $1.50 to$51.25 after Merrill Lynch analyst Stuart Weisbrod said he nolonger expects FDA approval this year of a broad label forLeukine granulocyte macrophage colony stimulating factor.Weisbrod, who now expects the approval to come in 1993,lowered his 1992 earnings-per-share estimate to 35 cents from45 cents and his 1993 estimate to $1.15 from $1.60.
He lowered his rating to "intermediate-term above average"from "intermediate buy."
Weisbrod raised his rating on bioinstrumentation companyApplied Biosystems Inc. (NASDAQ:ABIO) to "long-term aboveaverage" from "long-term neutral," boosting the stock $1 to$15.
Biotech companies that have raised funds in the public marketsare now beginning to spend on instrumentation, said MaureenMcGann, also an analyst at Merrill Lynch. -- Karen Bernstein
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