MGI Pharma "neutral"

12/27/05 - Robert W. Baird

NEW YORK, December 27 (newratings.com) - Analysts at Robert W Baird reiterate their "neutral" rating on MGI Pharma Inc (MOGN). The target price is set to $20.

In a research note published this morning, the analysts mention that although the company witnessed robust Aloxi sequential sales growth of 43% in November, the sales performance in October was extremely sluggish. According to the analysts, in order to meet the low end of MGI Pharma’s Aloxi sales guidance of $250 million-$260 million, Aloxi’s sales performance in December would have to be fairly strong.