Abgenix price target upped by Jefferies

Abgenix Inc. was reiterated by Jefferies & Co. analyst Adam Walsh at a hold rating, but the price target on the stock was boosted to $10.00 per share from $7.50 following second-quarter earnings, noting the company also announced it has decided to co-promote the cancer drug panitumumab with Amgen Inc. Jefferies also raised its 2005 EPS estimate to a net loss of $1.96 from a loss of $2.02. Abgenix shares Thursday were down $0.02, or 0.19%, at $10.49 on volume of 1,079,114 shares versus the three-month running average of 1,747,690 shares.

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