Analysis of jury instructions in patent case send Ariad stock tumbling
from BusinessWeek:
BancofAmerica analyst David Witzke downgraded Ariad to "Neutral" from "Buy," and lowered it price target to $7 from $9, on the expectation that Ariad will lose its patent case against Lilly based on a judge's instructions to the jury on April 28.
Ariad shares fell 40 cents, or 6.8 percent, to $5.45 in morning trading on the Nasdaq. Shares, which hit $5.40 earlier in the day, have traded between $5.44 and $8.75 over the past 52 weeks.
One of Lilly's defenses is that [co-plaintiffs] Harvard and MIT played games with the continuation process. Comments on the USPTO's changes to continuing applications are due on May 3, 2006.
BancofAmerica analyst David Witzke downgraded Ariad to "Neutral" from "Buy," and lowered it price target to $7 from $9, on the expectation that Ariad will lose its patent case against Lilly based on a judge's instructions to the jury on April 28.
Ariad shares fell 40 cents, or 6.8 percent, to $5.45 in morning trading on the Nasdaq. Shares, which hit $5.40 earlier in the day, have traded between $5.44 and $8.75 over the past 52 weeks.
One of Lilly's defenses is that [co-plaintiffs] Harvard and MIT played games with the continuation process. Comments on the USPTO's changes to continuing applications are due on May 3, 2006.
posted by Lawrence B. Ebert at 6:18 AM
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