Avalon Pharmaceuticals, Inc. (AVRX)

[surf1944]

AVRX will be much higher in the coming months:

avrx: COLLABORATION WITH MERCK FURTHER VALIDATES AVALONRx; REITERATE BUY RATING AND $13 PRICE TARGET
We believe Avalon Pharmaceuticals is an undiscovered gem with unlimited potential. Avalon's powerful platform technology (AvalonRx) has the potential to discover drugs against 'intractable' targets. We believe the Merck collaboration further validates AvalonRx's capabilities. Near-term, we expect AVRX shares to be driven by news flow on AVN944, as incrementally new Phase I data are possible at ASCO and we expect the initiation of Phase II trials in 2007. We are reiterating our Buy rating and $13 price target. Full Report - PDF