Pharmaceuticals

On April 5, 2010, Merck (NYSE: MRK) announced that they are acquiring Inspire Pharmaceuticals (NASDAQ: ISPH) for approximately $430 million, LifeTech Capital reports. “Merck stated goal is to strengthen their ophthalmic portfolio with Inspire's AZASITE (azithromycin ophthalmic solution) for the...

Last night, Xenoport (NASDAQ: XNPT) and partner GlaxoSmithKline (NYSE: GSK) announced that the FDA approved of Horizant (gabapentin) for the treatment of restless leg syndrome (RLS). This marks an extraordinary turnabout for the product after the market essentially wrote it off subsequent to the...

XenoPort (NASDAQ: XNPT) is trading significantly higher pre-market after receiving approval for Horizant, XNPT's drug for restless leg syndrome. At the time of posting, shares of XNPT were trading at $11.01, up 72.57% from Wednesday's close.

RBC Capital Markets has upgraded Elan Corporation (NYSE: ELN) from Sector Perform to Outperform with a $10 price target.

Salesforce.com Inc (NYSE: CRM) was upgraded by FBR Capital from "market perform" to "outperform." CRM's shares closed at $131.43 yesterday. Salesforce.com's trailing-twelve-month revenue is $1.66 billion. KeyBanc upgraded Sovran Self Storage Inc (NYSE: SSS) from “hold” to “buy.” SSS' shares closed...

XenoPort Inc (NASDAQ: XNPT) added 70.85% to $10.90 in the pre-market session. GlaxoSmithKline Plc (NYSE: GSK) and XNPT received approval from the US Food and Drug Administration (FDA) for Horizant. ZAGG Incorporated (NASDAQ: ZAGG) moved up 11.66% to $9.10 in the pre-market session. ZAGG signed an...

Deutsche Bank maintains its Buy rating on Medicis Pharmaceutical (NYSE: MRX) and has increased the price target from $36 to $40, “reflecting recent multiple expansions in the sector”. MRX closed yesterday at $34.27.

Yesterday, detailed data from Watson Pharmaceuticals (NYSE: WPI) and partner Columbia Labs' successful Phase III study of Prochieve (progesterone gel) was published in the journal Ultrasound in Obstetrics & Gynecology. The data revealed an advantage for Prochieve in terms of neo-natal morbidity...

Wedbush is reiterating its OP rating and $23 PT on shares of XenoPort, Inc. (NASDAQ: XNPT). XenoPort closed Wednesday at $6.38. “Our price target of $23/share is derived from a sum of the parts valuation,” Wedbush writes. “We do not include the potential for ex-U.S. royalties for any products,...

According to Benchmark, Columbia Laboratories (NASDAQ: CBRX) favorable results in pregnant study were published in the journal Ultrasound in Obstetrics and Gynecology. Benchmark reported that data shows treatment with Columbia's Prochieve reduced incidence of preterm birth 45% compared with...

Oppenheimer & Co. has an Outperform rating and a $17 price target on shares of Optimer Pharmaceuticals (NASDAQ: OPTR). In a note to clients, Oppenheimer writes, "On 4/6, OPTR announced a two-year co-promote agreement with CBST for DIFICID (fidaxomicin). We note that CBST entered into a similar...

GlaxoSmithKline (NYSE: GSK) and XenoPort (NASDAQ: XNPT) announced Wednesday that the U.S. Food and Drug Administration has approved Horizant™ (gabapentin enacarbil) Extended-Release Tablets for the treatment of moderate-to-severe primary Restless Legs Syndrome in adults. Horizant is not recommended...

Deutsche Bank has raised the price target on Medicis Pharmaceuticals (NYSE: MRX) from $36 t0 $40 and maintains its Buy rating.

Deutsche Bank has upgraded XenoPort (NASDAQ: XNPT) from Hold to Buy and has raised the price target from $6 to $13.

Analysts at RBC Capital upgrade Elan Corporation plc (NYSE: ELN) from “sector perform” to “outperform.” The target price for ELN has been raised from $8 to $10. ELN shares gained 6.15% to close at $7.59 yesterday. More Analyst Ratings here