Sosei "equal weight," target price reduced

12/19/05 - Morgan Stanley

LONDON, December 19 (newratings.com) - Analysts at Morgan Stanley maintain their "equal weight" rating on Sosei (4565). The target price has been reduced from ¥620,000 to ¥480,000.

In a research note published this morning, the analysts mention that the company’s share price depreciated significantly by 12.3% on December 16. The scheduled approval for Sosei’s Eligard drug has been delayed to after next March, which pushes back the launch of the drug to FY09, the analysts add.