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Analyst upgrades: ACAD, GNSS and STM

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MOST NOTEWORTHY: Acadia Pharmaceuticals, Genesis Microchip and SAFECO Corp were today's noteworthy upgrades:
  • JMP Securities upgraded Acadia Pharmaceuticals (NASDAQ: ACAD) to Strong Buy from Market Outperform, citing increased confidence in the company's pimavanserin for combination treatment of schizophrenia.
  • Genesis Microchip (NASDAQ: GNSS) was upgraded to Hold from Underperform at Jefferies to reflect the acquisition by STMicroelectronics (NYSE: STM). The firm does not expect additional competitive offers.
  • SAFECO (NYSE: SAF) was upgraded to Market Perform from Underperform at Friedman Billings based on improved outlook and valuation.
OTHER UPGRADES:
Symbol Lookup
IndexesChangePrice
DJIA-223.328,280.74
NASDAQ-49.201,796.52
S&P 500-26.91896.42

Last updated: July 04, 2009: 06:33 AM

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