Jefferies puts Advanced Magnetics at buy

Advanced Magnetics, Inc. was given a buy rating by Jefferies & Co., Inc. analyst Adam Walsh. Despite increasing its ferumoxytol estimates earlier, Jefferies' numbers are conservative. The company remains a takeout candidate for companies such as Genzyme and Shire. The analyst points out that the stock is up more than 200% since January. Shares of the Cambridge, Mass., pharmaceutical products company were up $2.24, or 6.71%, at $35.62 on volume of 336,000 shares versus the three-month running average of 148,518 shares. (Amex: AVM)

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