Pharmion upgraded to "neutral weight"

12/12/06 - Prudential Financial

NEW YORK, December 12 (newratings.com) - Analyst Jason Zhang of Prudential Financial upgrades Pharmion Corporation (PHRM) from "underweight" to "neutral weight." The target price has been raised from $19 to $25.

In a research note published yesterday, the analyst mentions that the outlook for Vidaza's competitive position in the MDS market has improved. Oral Vidaza is likely to further penetrate into the MDS market due to better patient compliance, the analyst says. Vidaza is now expected to capture 40% share of the US and worldwide MDS markets, which would result in sales of $213 million for 2010, as compared to the previous estimates of 25% market share and sales of $150 million, Prudential Financial adds.