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Decode's Shares Up 6 Percent on Bank Upgrade

Mar 12, 2007
NEW YORK (GenomeWeb News) — Shares in Decode Genetics were up 5.7 percent, or $.22, at $4.09 after the stock was upgraded by an investment bank today.
 
Piper Jaffray upgraded the stock to “outperform” from “market perform.”
 
Decode posted a 17-percent spike in fourth-quarter revenues last week, as R&D spending rose 4 percent and loss increased 10 percent. 
 
Lehman Brothers responded last week by upgrading the stock to “equal-weight” from “underweight,” and the company’s share price rose 10 percent on Thursday.

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