A Hold recommendation has been issued to life sciences company Monogram Biosciences, Inc. (MGRM) by Zacks senior biopharmaceutical industry analyst Grant Zeng, CFA.  Here we excerpt certain parts from his report:

'Monogram Biosciences is a life sciences company, engaged in the development and commercialization of molecular diagnostic products focusing on infectious diseases, cancer and other diseases. We are optimistic about its HIV test products and the potential of its VeraTag Assay for cancer test.

'The company stands to benefit meaningfully from the launch of Pfizer's (PFE) Maraviroc in both the U.S. and European markets. However, we would like to see how Monogram manages its top and bottom line growth in the coming years before we recommend the shares.

'We maintain our HOLD rating on Monogram Biosciences shares with a target price of $1.90. We believe the company's shares are fairly valued at the current level. We arrive at our target price by using a P/S multiple of 5.8x, at a discount to the diagnostic industry average P/S multiple of 7x, multiplied by our estimated 2007 product sales of $42.9 million, which corresponds to a market capitalization of $250.6 million.'

Read the full analyst report on MGRM.

Read the full analyst report on PFE.