Advanced Magnetics given buy rating from Jefferies

Jefferies & Co. Inc. analyst Adam Walsh rated Advanced Magnetics Inc. at a buy with an increased price target to $24 from $12. Jefferies is revising its initially conservative ferumoxytol estimates based on feedback from nephrology experts. Thursday, Advanced Magnetics reported first-quarter fiscal year 2006 net loss per share of $0.43, 8 cents below the analyst's estimate and 6 cents below street consensus. Shares of the Cambridge, Mass., pharmaceutical supply company were up $2.19, or 12.87%, at $19.20 on volume of 174,300 shares versus the three-month running average of 40,342 shares. (AMEX: AVM)

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