Stock of Synergen Inc. rose $3 on Monday, closing at $61.25,after Alex. Brown & Sons. analyst David Webber raised his1994-96 earnings estimates and repeated a "strong buy" on thestock. Webber also raised his six-to-12 month price target forSynergen stock (NASDAQ:SYGN) to $75 per share.
"We feel increasing confidence that Synergen's Antrilinterleukin-1 receptor antagonist for treatment of sepsis ismeeting with success in Phase II clinical trials and that aproduct license application could be submitted to FDA as earlyas late 1992," Webber wrote.
Webber predicted earnings of $2.10 in 1994, rising to $8.10 in1996. His previous projections were for earnings of $1.15 in1994 and $4.10 in 1996.
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