Positive comments by analysts helped several biotechnologystocks enjoy strong gains on Thursday.
Buoyed by comments this week by Montgomery Securitiesanalyst Brandon Fradd, Genetic Therapy Inc. (NASDAQ:GTII)closed up $2.75 at $12.50; Glycomed Inc. (NASDAQ:GLYC) rose$3.25 to $14; and ImmunoGen Inc. (NASDAQ:IMGN) closed up $2at $20.25, after gaining $2 on Wednesday.
Regeneron Pharmaceuticals Inc. stock (NASDAQ:REGN) rose$3.38 to $16 after a "buy" recommendation from Larry Bloom ofSoundView Financial Group. Earlier this month, Kevin Wilson ofS.G. Warburg Securities also issued a buy on the stock, whichcompleted an initial public offering in April at $22 per share.
Several agricultural biotech stocks rose, apparently as aresult of public comments by Jim McCamant, editor of theBerkeley, Calif.-based AgBiotech Stock Letter. McCamant,reiterating comments in his September newsletter, saidThursday that agbio stocks are undervalued.
Crop Genetics International Corp. (NASDAQ:CROP) was up $1.38to $4.63; Mycogen Corp. stock (NASDAQ:MYCO) was up 13 centsto $15.75 after gaining $1.88 on Wednesday; and Calgene Inc.stock (NASDAQ:CGNE) rose $1.25 to $9.
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