CuraGen initiated with "buy"

12/14/06 - American Technology Research

NEW YORK, December 14 (newratings.com) - Analyst Peter McDonald of American Technology Research initiates coverage of CuraGen Corporation (CRGN) with a "buy" rating. The target price is set to $8.

In a research note published yesterday, the analyst mentions that the 454 product has witnessed robust customer response and its sales continue to rise constantly and are likely to reach $34 million in 2006. CuraGen's pipeline is worth about $4 per share and the value of 454 is $3-$4 per share, the analyst says. Both these assets have significant value and would lend upside to the company's stock once their value is realised, American Technology Research adds.