Exelixis (EXEL) was downgraded today by analysts at Merriman and the stock is now at $6.75, down $0.94 (-12.22%) on volume of 1,539,766 shares traded. The brokerage reduced the s...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
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An unexpected drop in home construction activity weighed down the markets during the midday with the Dow falling 58 points to 10,378. Nasdaq dropped 19 points to 2184.
Biotech investors interested in seeing more details about these companies and a full list of their related stories can do so by typing the stock ticker symbol into the Stock Quotes box on the right side of the page.Affymax, Inc. (Nasdaq: AFFY), today announced that it intends to offer, subject to market and other conditions, shares of its common stock in an underwritten public offering.Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, today announced new pre-clinical data from its ALN-VSP program presented at the AACR-NCI-EORTC Molecular Targets and Cancer Therapeutics International conference being held November 15 - 19, 2009 in Boston, Mass.BSD Medical Corporation (NASDAQ: BSDM) (www.bsdmedical.com) today provided an update on the U.S. Food and Drug Administration’s (FDA) review of the Company's Humanitarian Device Exemption (HDE) marketing submission for the Company’s BSD-2000 Hyperthermia System.Clinical Data, Inc. (NASDAQ: CLDA) today announced that it has enrolled the first patient in its initial Phase III trial of Stedivaze™, a potential best-in-class vasodilator for use in cardiac stress testing.Delcath Systems, Inc. (Nasdaq: DCTH) announced today the closing of its public offering of 9,775,000 shares of common stock priced to the public at $3.60 per share.CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical company, today announced plans to initiate an open-label, multinational Phase 2 clinical trial with its doxorubicin prodrug INNO-206 as a second-line treatment in patients with advanced gastric (stomach) cancer.Depomed, Inc. (NASDAQ:DEPO) announced today that William Callahan has been promoted to vice president, Operations. Mr. Callahan joined Depomed in 2002 and most recently held the position of senior director, Operations.Exelixis, Inc. (Nasdaq:EXEL) today reported interim data from an ongoing phase 1 dose-escalation trial of XL147 (SAR245408) in combination with the EGFR inhibitor erlotinib in patients with advanced solid tumors.PPD, Inc. (NASDAQ:PPDI) today announced it has signed an agreement to acquire BioDuro LLC, a drug discovery outsourcing company that provides a broad range of integrated services to biopharmaceutical companies. The acquisition will expand PPD’s drug development capabilities in China.Pfizer Inc (NYSE:PFE) announced today that the U.S. Food and Drug Administration’s (FDA) Vaccines and Related Biological Products Advisory Committee voted 10 to 1 that the data presented support the safety and effectiveness of its 13-valent pneumococcal conjugate candidate vaccine, Prevnar 13™ (Pneumococcal 13-valent Conjugate Vaccine [Diphtheria CRM197 Protein]), for the prevention of invasive pneumococcal disease in infants and young children. Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP), a specialty pharmaceutical company, today announced the pricing of a public offering of 5,500,000 shares of its common stock.Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) today reported data from two nonclinical studies of voreloxin at the AACR-EORTC-NCI Molecular Targets and Cancer Therapeutics Conference, which is being held in Boston, MA from November 15-19, 2009.Synta Pharmaceuticals Corp. (NASDAQ: SNTA), a biopharmaceutical company focused on discovering, developing, and commercializing small molecule drugs to treat severe medical conditions, today presented new data on the mechanism of action of elesclomol, a first-in-class oxidative stress inducer, at the AACR-NCI-EORTC Conference on Molecular Targets and Cancer Therapeutics in Boston, Mass.Tongjitang Chinese Medicines Company (NYSE: TCM) (“Tongjitang” or the “Company”), a leading specialty pharmaceutical company focusing on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China, today announced its financial results for the quarter ended September 30, 2009 and the repurchase of ordinary shares in a private transaction.YM BioSciences Inc. (NYSE Amex: YMI; TSX: YM), a life sciences product development company that identifies and advances a diverse portfolio of promising cancer-related products at various stages of development, announced that results from a study evaluating nimotuzumab were presented today in a poster at the 2009 AACR-NCI-EORTC Molecular Targets and Cancer Therapeutics conference in Boston, Massachusetts.
Exelixis, Inc (NASDAQ:EXEL) has announced and reported that the interim data from an ongoing Phase 1 dose-escalation trial of XL147 (SAR245408) in combination with paclitaxel and carboplatin in patients with advanced solid ...
Merriman gave the Biotechnology industry some bad news as it announced a downgrade on one of its stocks.
Exelixis, Inc. (EXEL) [Chart - News - Analysis] was downgraded from Buy » Neutral on 11/18/2009---a negative sign for the stock that investors will have to endure. FYI, Merriman uses the following rating scale when analyzing stocks: Buy, Neutral, Sell.
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Exelixis, Inc. has an average analyst recommendation score of 2.2 and competes for investment dollars with Dendreon Corp. (DNDN) [Chart - News - Analysis] and Qiagen NV (QGEN) [Chart - News - Analysis]---two other stocks in the Biotechnology industry that have average analyst recommendation scores of 1.6 and 2.0 respectively.
Analyst recommendations are averaged and scored using the following rating scale:
- 1.0 = Strong Buy
- 2.0 = Buy
- 3.0 = Hold
- 4.0 = Sell
- 5.0 = Strong Sell
Why are Upgrades and Initiations Good and Downgrades Bad?
One event that is almost certain to get a reaction from Wall Street is an analyst upgrade or downgrade. Everyone is looking for an edge in the stock market, and quite often, traders turn to stock analysts to get that edge.
Upgrades and coverage initiations are typically good for stocks because they show that analysts either believe that the stock is going to perform better in the future or that the stock is worth covering and providing analysis on.
Downgrades are typically bad for stocks because they show that analysts believe that the stock is going to perform worse in the future.
A stock analysts is a person---typically employed by a large bank, investment firm or analysis company---who devotes his/her life to learning and making predictions about a company and its future performance.
Stock analysts sift through company reports and filings, talk to company management, probe customers and competitors and basically do whatever they can to find out if a company is healthy and growing or sick and shrinking. Because this is incredibly demanding work, stock analysts typically only monitor one or two companies at a time.
Biotech investors interested in seeing more details about these companies and a full list of their related stories can do so by typing the stock ticker symbol into the Stock Quotes box on the right side of the page.
Advaxis, Inc., (OTCBB: ADXS), the live, attenuated Listeria monocytogenes (Lm) biotechnology company, has been invited to present at the LD MICRO Growth Conference on Thursday, December 3, 2009 at 1:00 PM PST.AVANIR Pharmaceuticals, Inc. (NASDAQ: AVNR) today announced that it will release unaudited financial results for the quarter and fiscal year ended September 30, 2009 before market open on Tuesday, November 24, 2009.Conceptus, Inc. (Nasdaq: CPTS), developer of the Essure® procedure, the first proven non-incisional permanent birth control method available, today announced that Mark Sieczkarek, president and chief executive officer, will present at the Piper Jaffray 21st Annual Healthcare Conference on Tuesday December 1, 2009, at 2:00 p.m. ET. The conference will be held at the New York Palace Hotel.DARA BioSciences, Inc. (NASDAQ: DARA), a development-stage biopharmaceutical company, today announced that the Company will present at the New York Society of Security Analysts’ 13th Annual Biotech & Specialty Pharmaceuticals Industry investor conference to be held on December 1 in New York City.Exelixis, Inc. (Nasdaq:EXEL) today reported interim data from an ongoing phase 1 dose-escalation trial of XL147 (SAR245408) in combination with paclitaxel and carboplatin in patients with advanced solid tumors.ImmunoGen, Inc. (Nasdaq: IMGN), a biopharmaceutical company that develops targeted anticancer therapeutics, today reported encouraging clinical data with its IMGN901 product candidate in the treatment of Merkel cell carcinoma (MCC). Meaningful evidence of anticancer activity has been noted among the limited number of patients with MCC who have received IMGN901.ImmunoCellular Therapeutics, Ltd. (OTCBB: IMUC), a biotechnology company that is focused on the development of novel immune-based cancer therapies, announced today that Griffin Securities, a New York-based brokerage firm, has issued a research update summarizing some of the recent positive developments that the Company has been able to achieve which have led to reiteration of the ‘BUY’ rating on IMUC shares with an increase in the 12 month price target from $2.50, to $3.25, on the shares which are currently trading near $0.75.Neuralstem, Inc. (NYSE Amex: CUR) today provided a financial and business update for the third quarter ended September 30, 2009.Pluristem Therapeutics Inc. (NasdaqCM:PSTI) (DAX:PJT) today announced that safety and potential efficacy parameters were demonstrated by the three month follow up data from the first patient ever to receive its placenta derived cell therapy product, PLX-PAD.PolyMedix Inc. (OTC BB: PYMX), an emerging biotechnology company developing acute care therapeutic drug products for infectious diseases and cardiovascular disorders, announced today that it has completed a public offering of units for aggregate gross proceeds of $20.7 million.Poniard Pharmaceuticals, Inc. (Nasdaq: PARD) today announced updated clinical data from its randomized, controlled Phase 2 trial of picoplatin in patients with metastatic colorectal cancer (CRC).Revolutions Medical Corporation ("RevMed" or the "Company") (OTCBB: RMCP), producers of the RevVac safety syringe, RevColor, RevDisplay and Rev3D MRI Technology, today announced that president and MRI industry pioneer Tom O'Brien has signed a 3-year employment commitment to the Company, giving RevMed leadership continuity and assured access to his unrivaled distribution relationships.
Biotech investors interested in seeing more details about these companies and a full list of their related stories can do so by typing the stock ticker symbol into the Stock Quotes box on the right side of the page.SunLink Health Systems, Inc. (NYSE:SSY) announced earnings from continuing operations for its fiscal quarter ended September 30, 2009 of $549,000, or $0.07 per fully diluted share, compared to a loss from continuing operations of $603,000, or $0.08 per fully diluted share, for the quarter ended September 30, 2008.Enzo Biochem Inc. (NYSE:ENZ) announced today that David Goldberg, Vice President, Corporate Development, will speak on the Company’s extensive oral immune regulation platform at the Windhover TA Partnerships 2009 conference in Boston, MA, on Wednesday, November 18, 2009, where Enzo’s EGS21, an orally administered beta glucosylceramide formulation, now undergoing clinical study, was named one of this year’s “top 10 inflammatory/autoimmune projects to watch.”Pro-Pharmaceuticals, Inc. (OTCBB: PRWP), a developer of galectin-targeted, carbohydrate therapeutic compounds to treat cancer and fibrosis, today reported its financial results for the third quarter and first nine months of fiscal 2009.Oculus Innovative Sciences, Inc. (NASDAQ:OCLS), a biopharmaceutical company that develops, manufactures and markets a family of products based upon the Microcyn® Technology platform, which is intended to treat chronic and acute wounds, today announced that its development partners, Bayer Animal Health divisions in China and Taiwan, recently secured regulatory approvals in both those countries to develop and market Microcyn-based Vetericyn™ products for their respective animal healthcare markets.Orthovita, Inc. (NASDAQ: VITA), an orthobiologics and biosurgery company, announced today that it will present at the Lazard Capital Markets 6th Annual Healthcare Conference in New York City.Ore Pharmaceutical Holdings Inc. (NASDAQ:ORXE) today reported financial results and provided an operational update for the third quarter ended September 30, 2009.China-Biotics, Inc. (Nasdaq: CHBT) ("China-Biotics," "the Company"), a leading Chinese firm specializing in the research, development, manufacture, marketing and distribution of probiotics dietary supplements, today announced it will host a conference call at 11:00 a.m. EST on Tuesday, November 17, 2009, to discuss the Company's financial results for the second quarter of its 2010 fiscal year.NovaBay Pharmaceuticals, Inc. (NYSE Amex: NBY), a clinical-stage biopharmaceutical company developing first-in-class anti-infective products for the treatment and prevention of a wide range of infections, today reported financial results for the third quarter ended September 30, 2009.Exelixis, Inc. (Nasdaq:EXEL) announced today that Frank Karbe, the company’s executive vice president and chief financial officer, will present at Lazard’s 6th Annual Healthcare Conference at 11:00 a.m. EST / 8:00 a.m. PST on Wednesday, November 18, 2009 in New York.Columbia Laboratories, Inc. (Nasdaq: CBRX) today commented that nothing fundamental in the Company’s operations has changed to cause the current market activity in its Common Stock.Talecris Biotherapeutics (Nasdaq: TLCR) and N.C. Gov. Bev Perdue jointly announced today that the company will expand its manufacturing facilities in Clayton, creating 259 new jobs over the next seven years.PanGenex Corporation (Pink Sheets:PGCX), a global nutraceutical and dietary supplement manufacturer and marketer, is pleased to announce today that two of the nation's leading interventional cardiologists, Dr. Steven Yakubov and Dr. Mark Turco, have joined the Company's Scientific Advisory Board.Celgene Corporation (NASDAQ: CELG) today announced its presentation at the Lazard Capital Markets 6th Annual Healthcare Conference on Tuesday, November 17, 2009 at 1:40 p.m. ET will be webcast live and will be available in the investor relations section of the company’s Web site at www.celgene.com.Genzyme Corp. (Nasdaq:GENZ) announced today that it has issued letters to U.S. healthcare providers regarding its enzyme replacement products Cerezyme® (miglucerase for injection), Fabrazyme® (agalsidase beta), Myozyme® (alglucosidase alfa), Aldurazyme® (laronidase), as well as Thyrogen® (thyrotropin alfa for injection), filled at its Allston Landing manufacturing facility.King Pharmaceuticals, Inc. (NYSE:KG) today announced plans to present at the Lazard Capital Markets 6th Annual Healthcare Conference on Wednesday, November 18, 2009, at 2:15 pm EST, at the St. Regis Hotel in New York, New York.MedaSorb Technologies Corporation (OTCBB:MSBT) and its wholly-owned subsidiary, CytoSorbents, Inc., today announced the filing of Q3 2009 financial results as reported in its Form 10-Q with the SEC.
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