MDB Capital Upgrades Maxygen (MAXY) to Buy

January 7, 2008 8:17 AM EST
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MDB Capital upgrades and reinstates its coverage on Maxygen (Nasdaq: MAXY) with a Buy rating and a $15 price target.

The firm said it is optimistic about the potential of MAXY-G34 and Maxygen's protein optimization pipeline and technology platform. Furthermore, MDB said that the Street is currently undervaluing Maxygen's stake in Codexis.

Maxygen, Inc., a biotechnology company, engages in the discovery, development, and commercialization of protein pharmaceuticals for treatment of disease and serious medical conditions.

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