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Last Nights Headlines, Morning Action August 4th
Thursday, August 4, 2011 - 8:56am | 263AM Action: (GLD) (SLV) Overnight highs in spot silver were above 42. Next Fib in SLV is 42, Short term resistance is yesterdays highs at 40.95. Support at 40.16 the daily 50 fib level Dendrion Corp. (DNDN) "Down 61% pre market at $15" 7:30a (T3) Tim_K: Brean Murray downgrades DNDN to Sell...
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UPDATE: Citi Lowers PT on Dendreon to $14
Thursday, August 4, 2011 - 8:32am | 105Citi is out with its report today on Dendreon (NASDAQ: DNDN), lowering its PT from $36 to $14. In its report, Citi writes, "Our $14 per share target price is based on using a 27 x P/E multiple on the company's 2014 EPS estimate of $0.73 with a discount rate of 15% per year. We are using a slightly...
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J.P. Morgan Maintains Overweight on Onyx Pharmaceuticals
Thursday, August 4, 2011 - 8:14am | 106J.P. Morgan is out with its report today on Onyx Pharmaceuticals (NASDAQ: ONXX), maintaining Overweight. In its report, J.P. Morgan writes, "We have an OW rating on ONXX based on attractive growth driven by the company's existing and late-stage product portfolio. The company has an established...
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Jefferies Rating and PT Updates 8/4
Thursday, August 4, 2011 - 8:12am | 1311Jefferies made a number of rating and price target changes in a research report published today. AstraZeneca PLC (NYSE: AZN) had its rating upgraded from Underperform to Hold. On Wednesday, AZN lost 0.34% of its value to finish the day at $47. Its shares continued to slide in today's pre-market...
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Brean Murray Downgrades Dendreon To Sell, $6 PT
Thursday, August 4, 2011 - 8:02am | 26Brean Murray Carret & Company has downgraded Dendreon (NASDAQ: DNDN) to Sell and has lowered the price target to $6.
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Palatin Announces Commencement of a Phase 1 Trial for Obesity Compound in Collaboration with AstraZeneca
Thursday, August 4, 2011 - 7:58am | 153Palatin Technologies, Inc. (NYSE: PTN) confirmed today the commencement of a Phase 1 clinical trial of AZD2820, a subcutaneously-administered peptide melanocortin receptor partial agonist, under development as a single-agent therapy for the treatment of obesity. AZD2820 is a clinical candidate...
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Goldman Sachs Neutral On Onyx Pharmaceuticals
Thursday, August 4, 2011 - 7:53am | 138Goldman Sachs is out with a research report on Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) and it has a Neutral rating and a $40 price target on shares. In a note to clients, Goldman Sachs writes, "Given the CFZ delay, we now expect FDA to either accept the NDA filing or issue a refuse to file...
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Benzinga's Top Pre-Market Losers
Thursday, August 4, 2011 - 7:52am | 121Dendreon Corporation (NASDAQ: DNDN) dipped 61.10% to $13.94 in the pre-market session. DNDN withdrew its full-year revenue projections and posted wider-than-expected quarterly loss. Northrop Grumman Corporation (NYSE: NOC) lost 4.36% to $54.62 in the pre-market session. NOC shares have dropped 4....
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Bank of America Downgrades Dendreon To Underperform, Lowers PO To $16
Thursday, August 4, 2011 - 7:49am | 29Bank of America has downgraded Dendreon Corporation (NASDAQ: DNDN) from Buy to Underperform and has lowered the price objective from $50 to $16.
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Benzinga's Top Downgrades
Thursday, August 4, 2011 - 7:45am | 123Dendreon Corporation (NASDAQ: DNDN) was downgraded by Robert W. Baird from "outperform" to "neutral." DNDN's shares closed at $35.84 yesterday. Dendreon's trailing-twelve-month operating margin is -443.81%. JP Morgan downgraded Entropic Communications Inc (NASDAQ: ENTR) from “overweight” to “...
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J.P. Morgan Reports In-Line Results From IMGN
Thursday, August 4, 2011 - 7:31am | 91J.P. Morgan is raising its price target on ImmunoGen (NASDAQ: IMGN) from $7 to $8 following the company's release of its FY4Q11 results. Says J.P. Morgan, in its report, “IMGN reported relatively in-line FY4Q11 results, offered guidance for FY2012 and maintained timelines for key products. Our...
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A Peek Into The Market Before The Trading Starts
Thursday, August 4, 2011 - 7:28am | 400Pre-open movers US stock futures are lower this morning, as investors are awaiting earnings from General Motors Co (NYSE: GM) and weekly jobless claims data. Futures for the Dow Jones Industrial Average dipped 70 points to 11,748.00 and S&P 500 index futures fell 8.60 points to 1,245.90. Nasdaq...
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Dyax Announces Treatment of First Patient in Phase 2 Trial of Ecallantide for Acute Treatment of ACE Inhibitor-Induced Angioedema
Thursday, August 4, 2011 - 7:05am | 105Dyax Corp. (NASDAQ: DYAX) announced today treatment of the first patient in a Phase 2 trial evaluating the efficacy and safety of ecallantide, a potent, selective, reversible inhibitor of plasma kallikrein, for acute treatment of angiotensin converting enzyme inhibitor-induced angioedema. This...
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Citigroup Lowers PT On Dendreon To $14
Thursday, August 4, 2011 - 6:52am | 25Citigroup has lowered the price target on Dendreon (NASDAQ: DNDN) from $36 to $14 and maintains its Hold rating.
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JP Morgan Raises PT on ImmunoGen To $8
Thursday, August 4, 2011 - 6:34am | 26JP Morgan has raised the price target on ImmunoGen (NASDAQ: IMGN) from $7 to $8 and maintains its Neutral rating.