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MLV Maintains Buy on Genomic Health
Friday, August 5, 2011 - 9:38am | 112MLV is out with its report today on Genomic Health (NASDAQ: GHDX), maintaining Buy. In its report, MLV writes, "Genomic Health ended 2Q:10 with $61 million in cash, cash equivalents, and investments; a decrease of $2.6 million from 1Q:11. The company has been profitable in four of the last five...
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Rodman & Renshaw Maintains Market Perform on MannKind
Friday, August 5, 2011 - 9:32am | 102Rodman & Renshaw is out with its report today on MannKind (NASDAQ: MNKD), maintaining Market Perform. In its report, Rodman & Renshaw writes, "With the clinical picture coming into view and the funding to support the two Phase 3 trials unspecified, we reiterate our Market Perform rating on...
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Rodman & Renshaw Reiterates Market Outperform and PT of $6 on Vical
Friday, August 5, 2011 - 8:58am | 43Rodman & Renshaw reiterated its Market Outperform rating on Vical (NASDAQ: VICL). At the same time, the rating agency left its price target on the company's stock unchanged at $6. On Thursday, VICL closed the day at $4.27.
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Sinovac Announces Resignation of CFO; VP Nan Wang New CFO
Friday, August 5, 2011 - 8:03am | 72Sinovac Biotech Ltd. (Nasdaq: SVA) announced today the resignation of Jacob Chik Keung Ho, its Chief Financial Officer, for personal reasons. The Company has initiated an executive search for a new Chief Financial Officer to replace Mr. Ho, who has agreed to remain with the Company until August...
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Biggest Pre-Market Gainers at 8am
Friday, August 5, 2011 - 7:58am | 175Priceline (NASDAQ: PCLN) is up over 9% in today's pre-market trading due to Q2 earnings. The company reported an adjusted EPS of $5.49 beat EPS estimate of $4.87. Lululemon Athletica (NASDAQ: LULU) gained over 7% in the pre-market. CF Industries (NYSE: CF) gained over 4% during pre-market hours...
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Amylin, Takeda Stop Development of Obesity Treatment
Thursday, August 4, 2011 - 9:21pm | 127Amylin Pharmaceuticals (NASDAQ: AMLN) and Takeda Pharmaceutical (OTC: TKPYY) today announced that they are discontinuing development of pramlintide/metreleptin, an investigational combination therapy for the treatment of obesity that comprises pramlintide, an analog of the natural hormone amylin,...
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Zings Of The Day, August 4, 2011
Thursday, August 4, 2011 - 3:43pm | 106Dendreon (NASDAQ: DNDN) reported weaker than expected earnings yesterday, and removed its guidance for its prostate cancer drug Provenge. Shares fell nearly 70% today, amidst a broader market sell off. Just a little bit of a correction, ya think? Kraft (NYSE: KFT) announced this morning that it...
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Rodman & Renshaw Reiterates Outperform Rating on Dendreon
Thursday, August 4, 2011 - 12:07pm | 111Rodman & Renshaw is out with a research report this afternoon, where it reiterates its Outperform rating on Dendreon (NASDAQ: DNDN); it has a $17.00 price target on the stock, from $63. The R&R analysts cited the company's recent earnings results, which were worse than expected. The...
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How Dendreon Can Fix Its Broken Relationship With Wall Street
Thursday, August 4, 2011 - 11:58am | 703By David Miller Dendreon (DNDN) is down hugely this morning on last night's earnings miss and guidance rescission. The NASDAQ Biotech Index (^NBI) and associated ETF (IBB) are down also. This is not a good day for the biotech sector, as the reimbursement issues faced by Dendreon seem, at the 10,...
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Rodman & Renshaw Reiterates Dendreon Market Outperform, Lowers PT
Thursday, August 4, 2011 - 11:29am | 90Rodman & Renshaw reiterated its Dendreon (NASDAQ: DNDN) Market Outperform rating and lowered its Dendreon price target from $63 to $17 in a research report published today. In the report, Rodman & Renshaw states, "Given the significant decrease in market valuation (-64%), and the fact that...
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Pre-Market Losers 8/4
Thursday, August 4, 2011 - 9:27am | 97Dendreon (NASDAQ: DNDN) -63.81% on multiple analyst downgrades this morning Entropic Communications (NASDAQ: ENTR) -24.4% on lower earnings and several analyst downgrades this morning. Zumiez (NASDAQ: ZUMZ) -13.28% on lower than expected same store sales increase. Walter Energy (NYSE: WLT) -...
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Oppenheimer Comments On ImmunoGen 4Q11 Results
Thursday, August 4, 2011 - 9:24am | 62According to Oppenheimer, ImmunoGen (NASDAQ: IMGN) reported 4QFY11 results. Oppenheimer said that Roche reported a statistically significant PFS benefit in top-line results. “We see near-term upside for IMGN on the T-DM1 results at ESMO, and we expect growing recognition of the value of the...
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Novavax and the Mexican Social Security Institute Publish Results from H1N1 Influenza Vaccine Trial in Mexico
Thursday, August 4, 2011 - 9:21am | 184Novavax (NASDAQ: NVAX) and Specialties Hospital of the National Medical Center, Mexico City, today announced the publication of safety and immunogenicity results from a clinical study of Novavax's A/H1N1 virus-like-particle pandemic influenza vaccine candidate in the journal Vaccine. The two-stage...
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YM BioSciences JAK Inhibitor CYT387 Shown Active in Multiple Myeloma
Thursday, August 4, 2011 - 9:09am | 85YM BioSciences Inc. (NYSE: YMI), today reported preclinical results for its JAK1/JAK2 inhibitor CYT387 in multiple myeloma, published in the advance online edition of Leukemia on July 26, 2011. The results demonstrate that CYT387 can inhibit MM cellular proliferation in a time- and dose-dependent...
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UPDATE: Bank of America Merrill Lynch Downgrades Dendreon to Underperform
Thursday, August 4, 2011 - 9:01am | 132Bank of America Merrill Lynch is out with its report today on Dendreon (NASDAQ: DNDN), downgrading DNDN from Buy to Underperform. In its report, Bank of America Merrill Lynch writes, "We are downgrading DNDN shares from BUY to Underperform and substantially lowering our PO, from $50 to $16. The...