Micromet Inc.’s (MITI) third quarter 2010 loss (excluding special items) of $0.12 per share was narrower than the year-ago loss of $0.22 per share and the Zacks Consensus Estimate of a loss of $0.19 per share. The reduced loss was attributable to an increase in revenues and a fall in operating expenses.
We are pleased with the broad pipeline at Micromet. Moreover, the company’s efforts to develop the pipeline are also encouraging. Furthermore, we believe that the collaborations with major players provide the required muscle to Micromet to develop its pipeline.
Consequently, we have trimmed our loss per share estimates for 2010 and 2011 and upgraded the stock to Outperform. Our target price is currently $9.50 per share.
MICROMET INC (MITI): Free Stock Analysis Report
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