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Analyst initiations: BDSI, NWK, BRL and TEVA

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MOST NOTEWORTHY: BioDelivery Sciences, Network Equipment, Barr Pharmaceuticals and Teva Pharmaceutical were today's noteworthy initiations:

  • Merriman believes BioDelivery Sciences (NASDAQ:BDSI) is significantly undervalued given the positive results for BEMA Fentanyl and potential milestone payments of $60M, initiating shares with a Buy rating. They estimate fair value is in the $8-$10 range.
  • Broadpoint believes Network Equipment (NYSE:NWK) is well-positioned for growth in the IP space, starting shares with a Buy rating.
  • Banc of America started Barr Pharma (NYSE:BRL) with a Buy rating and $60 target, noting that the company's generic pipeline represents $30B in brand revenues and views Fosamax as the largest immediate opportunity. The firm also assumed coverage of Teva (NASDAQ:TEVA) with a Buy rating and $55 target, as they believe Teva's scale makes it the only generic company that can make a profit from aged generic products.

OTHER INITIATIONS:

Symbol Lookup
IndexesChangePrice
DJIA-223.328,280.74
NASDAQ-49.201,796.52
S&P 500-26.91896.42

Last updated: July 05, 2009: 01:04 PM

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