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Sectors to Watch 06-27-2011
Monday, June 27, 2011 - 8:13pm | 907Cusick's Corner While the market held onto the midday gains, the volume was light and the Greek austerity vote is still a headline risk in the market during this pre-vacation week. So while we watch the potential headlines overseas, do not lose sight of other barometers, .i.e. the offensive...
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Icagen
Monday, June 27, 2011 - 6:49pm | 33Icagen (ICGN), a tiny biotech, leapt 164% to 6.33 after Pfizer (PFE) revealed in federal documents that it is evaluating a possible purchase of the company. It currently owns 14.2% of Icagen. Pfizer edged up 0.5% to 20.17.
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Rodman & Renshaw Reiterates Outperform Rating on Cleveland Biolabs
Monday, June 27, 2011 - 5:13pm | 154Rodman & Renshaw is out with a research report this morning, where it reiterates its Outperform rating on Nokia (NASDAQ: CBLI); it has an $8.00 price target on the stock. The R&R analysts cited the company's recent investor day conference, where the company noted that it had accelerated...
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Rodman & Renshaw Lower Cleveland BioLabs PT to $8
Monday, June 27, 2011 - 4:42pm | 171Rodman & Renshaw lowered its Cleveland BioLabs (NASDAQ: CBLI) price target from $11 to $8 in a research report published today. Rodman & Renshaw has previously given Cleveland BioLabs a Market Outperform rating. In the report, Rodman & Renshaw states, "Our thesis is based on the view...
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Amgen Submits Application to Expand Indication for XGEVA to Prevent or Delay Spread of Prostate Cancer to the Bone
Monday, June 27, 2011 - 4:38pm | 71Amgen (NASDAQ: AMGN) today announced the submission of a supplemental Biologics License Application to the U.S. Food and Drug Administration (FDA) to expand the indication for XGEVA to treat men with castrate-resistant prostate cancer to reduce the risk of developing bone metastases. If approved...
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Window Dressing 06-27-2011
Monday, June 27, 2011 - 3:25pm | 1003Cusick's Corner Window dressing -- the grind to the upside could be a combination of some end of the quarter window dressing with a twist of shorts being squeezed. The market has again held critical support, 1256 on the S&Ps, and found legs to bounce, plus Tech is leading again. Now I take...
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Rodman & Renshaw Outperform On EpiCept Corp.
Monday, June 27, 2011 - 12:21pm | 163Rodman & Renshaw has an Outperform rating and a $2 price target on shares of EpiCept Corp. (NASDAQ: EPCT). In a note to clients, Rodman & Renshaw writes, "Investors should be aware that the prior Phase 3 trial (0201 study) evaluating Ceplene and IL-2, upon which last year's NDA submission...
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Rodman & Renshaw Reiterates EpiCept Market Outperform, $2 PT
Monday, June 27, 2011 - 12:11pm | 137Rodman & Renshaw reiterated its EpiCept (NASDAQ: EPCT) Market Outperform rating and $2 price target in a research report published today. In the report, Rodman & Renshaw states, "The potential to initiate a new Phase 3 trial of Ceplene with overall survival as an endpoint creates a path...
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NASDAQ Stocks Hitting 52-Week Highs
Monday, June 27, 2011 - 11:34am | 140Icagen Inc (NASDAQ: ICGN) shares rose 129.18% to create a new 52-week high of $5.50. Pfizer Inc (NYSE: PFE) reported that it is considering a strategic transaction with Icagen. Cornerstone Therapeutics Inc (NASDAQ: CRTX) shares gained 7.01% to create a new 52-week high of $8.43. CRTX's trailing-...
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Immunomedics Receives Third Milestone Payment From Nycomed of $10M
Monday, June 27, 2011 - 10:07am | 185Immunomedics (Nasdaq: IMMU) today announced the receipt of $10 million from Nycomed relating to a milestone for the clinical development of veltuzumab in rheumatoid arthritis. Nycomed has the worldwide rights to develop, manufacture and commercialize veltuzumab, in the subcutaneous formulation, for...
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PharmAthene Achieves Anthrax Vaccine Program Milestone and Successfully Completes Technology Transfer
Monday, June 27, 2011 - 10:01am | 75PharmAthene, Inc. (NYSE: PIP) announced today that it has achieved an important technical milestone in its recombinant protective antigen anthrax vaccine program. PharmAthene has successfully completed initial technology transfer of its manufacturing process for the bulk drug substance of its...
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Morning Market Movers
Monday, June 27, 2011 - 9:46am | 151Icagen Inc (NASDAQ: ICGN) shares surged 129.18% to $5.50 at 9:45 am. Pfizer Inc (NYSE: PFE) reported that it is considering a strategic transaction with Icagen. Tiens Biotech Group (USA) Inc (AMEX: TBV) shares gained 64.08% to $1.69. TBV shares have dropped 43.72% over the past 52 weeks, while the...
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Collins Stewart Reiterates Sell and PT of $9 on Amylin Pharmaceuticals
Monday, June 27, 2011 - 9:21am | 29Collins Stewart reiterated its Sell rating and PT of $9 on Amylin Pharmaceuticals (NASDAQ: AMLN). On Friday, Amylin finished the day at $11.83.
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Oppenheimer Has Outperform On Amgen
Monday, June 27, 2011 - 9:15am | 160Oppenheimer & Co. has an Overweight rating and a $66 price target on shares of Amgen (NASDAQ: AMGN). In a note to clients, Oppenheimer & Co. writes, "On 6/24, the FDA issued a new Epogen label, with more conservative dosing. Previously, the label guided to dosing that achieved hemoglobin (...
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CEL-SCI Announces Start of Multikine Phase III Study by Teva Pharmaceuticals Industries, Ltd. in Israel
Monday, June 27, 2011 - 9:10am | 213CEL-SCI Corporation (NYSE: CVM) announced today that its partner Teva Pharmaceuticals has concluded the Site Initiation Visit for the first Israeli clinical center in CEL-SCI's Phase III clinical trial for Multikine®, the Company's flagship cancer immunotherapy. The first hospital is called Tel...