Jefferies maintains Abgenix cautious stance, hold

Abgenix Inc. was maintained by Jefferies & Co., Inc. analyst Adam A. Walsh at cautious stance and a hold rating even though Walsh has an optimistic view that panitumumab will meet the primary endpoint of progression free survival versus best supportive care. Walsh said any upside move would be temporary in light of several issues, including the company's debt-laden balance sheet. Shares of the Fremont, Calif.-based biopharmaceutical company were down $0.62, or 6.16%, at $9.45 on volume of 4,404,167 shares versus the three-month running average of 1,812,580 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.