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Prudential Securities Begins Covering Genomics Sector

NEW YORK, Sept 22 – Prudential Securities said Friday it would begin analyst coverage of the genomics sector.

Charles Duncan, senior biotechnology analyst at the firm’s Prudential Vector Healthcare Group, will cover Celera Genomics (NYSE: CRA), CuraGen (Nasdaq: CRGN), Genome Therapeutics (Nasdaq: GENE), Human Genome Sciences (Nasdaq: HGSI), Myriad Genetics (Nasdaq: MYGN), Sangamo BioSciences (Nasdaq: SGMO), and Tularik (Nasdaq: TLRK).

Duncan, who holds a PhD in pharmaceutical sciences from the University of Colorado, initiated this coverage with the following recommendations:

Celera of Rockville, Md., was initiated with a 12-month target of $112. The genomic database company was up 12 3/8, or 14.5 percent, at 97 5/8 in afternoon trading.  

CuraGen of New Haven, Conn., was initiated with a 12-month target of $55. The genomics-based drug discovery company was up 7/16, or 1 percent, at 41 15/16.

Genome Therapeutics of Waltham, Mass., was initiated with a 12-month target of $25. The gene-based drug discovery company was up 1/4, or 1.3 percent, at 19 3/4.

Human Genome Sciences of Rockville, Md., was initiated with a 12-month target of $199. The gene-based drug discovery company was up 15 3/4, or 10.2 percent, at 169 15/16.

Myriad Genetics of Salt Lake City was initiated with a 12-month target of $89. The genetic variance screening company was up 3 9/16, or 5.6 percent, at 67 3/16.

Sangamo of Richmond, Calif., was initiated with a 12-month target of $56. The gene expression regulator company was down 1 1/16, or 2.34 percent, at 44 7/16.

Tularik of San Francisco was initiated with a 12-month target of $49. The gene-regulation drug developer was up 1/38, or 4.1 percent, at 34 7/8.

Duncan rated Myriad and Tularik each a strong buy and gave the others an accumulate rating.

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