Zacks Analyst Blog Highlights: AtheroGenics, AstraZeneca, Campbell Soup and SAP.
See the latest posts to the Analyst Blog by visiting: http://at.zacks.com/?id=2673
Here are highlights from Wednesday's Analyst Blog:
AtheroGenics Downgraded to Sell
AtheroGenics, Inc. (Nasdaq: AGIX) announced on March 19, 2007 that the ARISE phase III clinical study of AGI-1067 did not show a difference from placebo in its composite primary endpoint of time to first incidence of a composite of major adverse cardiovascular events (MACE). We expect development partner AstraZeneca (NYSE: AZN) to walk away from the collaboration within the next 45 days.
AtheroGenics could discontinue development of the candidate given the failed trial and potential safety concerns (liver function) that have materialized. Therefore, we see $2 as fair value.
Costs Keep Campbell's a Hold
Campbell Soup Company's (NYSE: CPB) Transformation and Driving Quality Growth Plans are improving the top-line through a combination of improved products, attractive packaging, a new retail shelving system and more effective marketing. Price increases in fiscal 2006 helped Campbell accomplish management's financial goals.
However, fiscal 2007 will see increased spending on marketing and the implementation of SAP (NYSE: SAP) in the United States, along with continued inflationary pressure from higher commodity costs. Hence, the Hold rating is maintained.
See the latest posts to the Analyst Blog by visiting http://at.zacks.com/?id=2645
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|Date:||Mar 29, 2007|
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