Icos Corp. stock lost $1.75 on Thursday, closing at $18, afterPaineWebber analyst Linda Miller lowered her rating to"unattractive" from "neutral" based on the stock's strong priceappreciation.

The Seattle-based company's stock (NASDAQ:ICOS) had run upnearly 250 percent since July. Miller said that this partlyreflects strong fundamentals at Icos, but "we believe themarket may have overreacted to some of these fundamentalimprovements relative to the current price activity. We wouldadvise investors with a near-term orientation to take profitsat this point."

Icos completed an initial public offering in June at $8 a share.

The stock had risen recently on rumors that the company wasnegotiating a deal with a major pharmaceutical company. Icosconfirmed last week that it was discussing with GlaxoHoldings plc of London a collaboration to develop drugs forinflammatory and cardiovascular diseases. -- Karen Bernstein

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