Analyst initiations: JSDA, WLL and PPHM

MOST NOTEWORTHY: Jones Soda, Whiting Petroleum and Peregrine Pharma were today's noteworthy initiations:

Merriman assumed coverage of Jones Soda (NASDAQ:JSDA) with a Neutral rating and believes shares will languish until interim management resets expectations. For FY08, they expect sales to grow 25%-30%, rather than the consensus estimate of 38%.
Jefferies thinks Whiting Petroleum (NYSE:WLL) is entering a multi-year organic and sees catalysts from the upcoming Bakken well results and positive production response from Enhanced Oil Resources (EOR) projects. The firm started shares of Whiting with a Buy rating and $66 target.
Rodman & Renshaw initiated shares of Peregrine Pharma (NASDAQ:PPHM) with a Market Perform rating, as they would prefer to establish a position closer to mid-08 when key data from its Cotara Phase II study is expected.

OTHER INITIATIONS:

Stanford initiated Tercica (NASDAQ:TRCA) with a Buy rating and $10 target.
Broadpoint initiated Pain Therapeutics (NASDAQ:PTIE) with an Underperform rating.
Mattel (NYSE:MAT) was initiated with a Hold rating and $22 target at Citigroup.

Tags: analyst initiations, AnalystInitiations, Jones Soda, JonesSoda, JSDA, PPHM, TRCA, WLL