Elan "add"

07/17/07 - Goodbody Stockbrokers

NEW YORK, July 17 (newratings.com) - Analyst Ian Hunter of Goodbody Stockbrokers maintains his "add" rating on Elan Corp Plc (ELN). The target price is set to $23.

In a research note published this morning, the analyst mentions that the company is expected to report its 2Q07 fully diluted losses per share at 14.6¢ and revenues of $193.1 million. The results related to Elan’s Tysabri and AAB-001 products would be reported by the partners before July 26, when Elan reports its 2Q07 results, the analyst says. Novartis has indicated that it is on track to submitting its FTY720 product to the regulatory authorities in 2009.