Synergen Inc. shares rose $2.75 to $52.75 on Wednesday afterShearson, Lehman analyst Teena Lerner initiated coverage,adding the stock to the SLB Selected Growth Stock List andrecommending that investors buy shares on weakness.
Synergen "is the only biotech company currently in Phase IIIstudies with a drug of blockbuster potential," Lerner wrote.Based on Phase II data, she said, Antril interleukin-1 receptorantagonist appears to be superior to the anti-sepsis monoclonalantibodies developed by Centocor Inc. and Xoma Corp.
Synergen (NASDAQ:SYGN) has a strong pipeline of products andhas retained rights to almost all of them, Lerner wrote. Inaddition, with more than $300 million in the bank, it ranksfourth in the industry in terms of cash position, behindGenentech Inc., Chiron Corp. and Amgen Inc.
She set a tentative price target of $110 by 1995. -- KB
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