Centocor Inc. stock (NASDAQ:CNTO) lost $2.50 on Thursday,closing at $48.75, after Montgomery Securities analystBrandon Fradd said physicians at a Chicago infectious diseaseconference gave a chilly reception to the company's Centoxinto treat gram-negative sepsis.
Nevertheless, Fradd said, Centoxin could still post sales of$300 million within two years. In addition, the company islikely to launch two or more new products within the next twoto three years.
Earlier this week, Goldman, Sachs & Co. analyst Jeffrey Swarzhad raised his earnings estimates for Malvern, Pa.-basedCentocor, based on a positive response to a survey on expectedCentoxin use at large U.S. hospitals. Swarz raised his earningsestimates to $1.95 from 70 cents in 1992 and to $3.25 from$2.10 in 1993. Swarz said he expected $400 million in 1992sales.
Fradd recommended taking profits at a $50 stock price, buyingbelow $40 and aggressively buying below $35.
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