(MITI) Micromet Analyst Maintains Neutral on Shares

We have maintained a Neutral rating on Micromet, Inc. (MITI) with a target price of $7.00 per share following appraisal of third quarter 2011 results. Micromet’s third quarter 2011 loss per share came in at 21 cents (after adjusting for the change in fair value of warrants), wider than the year-ago loss of 13 cents per share (also adjusting for the change in fair value of warrants). Lower-than-expected revenues led to the wider loss in the quarter. Revenues at Micromet were down almost 33% from the prior-year period to $4.5 million in the third quarter of 2011 due to lower collaboration revenue. Moreover, revenues in the year-ago quarter were boosted by the presence of a milestone payment from AstraZeneca (AZN). Revenues were also much below the Zacks Consensus Estimate of