Accelrys initiated with "hold" - update

06/29/05 - WR Hambrecht & Co

NEW YORK, June 29 (newratings.com) - Analysts at WR Hambrecht initiate coverage of Accelrys Inc (ACCL) with a "hold" rating. The target price is set to $5.25.

In a research note published yesterday, the analysts mention that the company has recently repositioned its personnel in order to control its expenses. Accelrys is poised to benefit in the near future from the healthy growth of the molecular modeling business, the analysts say. Increasing awareness of nanotechnology is expected to act as a catalyst for the company’s share price in the current year, WR Hambrecht adds.