Merrill Lynch analyst Stuart Weisbrod said Friday that he hasinitiated coverage of Systemix Inc. The Palo Alto, Calif.,company developed the SCID-hu mouse, an animal model thatcontains components of the human immune system.
Weisbrod gave Systemix an "above average" intermediate-termrating and a long-term "buy." Merrill Lynch was the leadunderwriter for Systemix's initial public offering last month,in which the company sold 2 million shares at $18.
Systemix stock (NASDAQ:STMX) closed up $1.25 at $26.25 onFriday.
Weisbrod said he expects Systemix to post losses through1993 and earn between $1.70 and $2 a share in 1994. Hisintermediate-term price objective for the stock is $35 to $36.
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