• Janney Montgomery upgraded City Holding Company (NASDAQ: CHCO) to Buy from Neutral due to valuation and a belief the banking franchise is strong. The firm has a $33 price target on the stock.
  
• JMP Securities upgraded Acadia (NASDAQ: ACAD) to Outperform from Market Perform following the announcement that it has partnered with Biovail to develop and commercialize Pimavanserin. The firm has a $7 price target on the stock.
  
• RBC Capital upgraded Methanex (NASDAQ: MEOH) to Outperform from Sector Perform and raised its price target to $18 from $11 based on its improving free cash flow outlook.
• MGM Mirage (NYSE: MGM) was raised to Buy from Underperform at Banc of America/Merrill.
• Research in Motion (NASDAQ: RIMM) was lifted to Neutral from Underweight at JP Morgan.
• Con-Way (NYSE: CNW) was upgraded to Overweight from Equal Weight at Stephens.

Continue reading Analyst upgrades, downgrades and initiations: RIMM, MGM, ANF ...

Analyst upgrades, downgrades and initiations: RIMM, MGM, ANF ... originally appeared on BloggingStocks on Tue, 05 May 2009 10:50:00 EST. Please see our terms for use of feeds.

Earlier this week I met with three CEOs of the neurotech industry -- Ron Cohen of Acorda Therapeutics (NASDAQ: ACOR), Uli Hacksell of Acadia Pharmaceuticals (NASDAQ: ACAD) and Jörn Aldag, of Evotec (NASDAQ: EVTC) -- along with Zack Lynch, the director of their trade association. Their November 10 media tour gave me a chance to gain some insight into this niche within the biotech industry of companies seeking cures for brain illnesses through drugs and devices.

At a time when revenues from blockbuster drugs are tapering off as their patents expire, these companies -- and their two-year-old Neurotechnology Industry Organization -- are hoping to unlock a new area of business growth while offering cures to ailments of longer-living populations and diseases involving the central nervous system.

Hawthorne, New York-based Acorda is already selling its first product, Zanaflex Capsules, which help control spasticity. Its Fampridine medication, aimed at bettering the walking capability of people with multiple sclerosis, is still undergoing Phase 3 testing. Update: November 14: Ron Cohen let me know Acorda has successfully completed Phase 3 testing of Fampridine
and intends to apply early next year for Food and Drug Administration approval to market it.

Meanwhile, San Diego-based Acadia, led by Hacksell, is conducting Phase 3 clinical trials of pimavanserin, which addresses psychosis related to Parkinson's disease.

Evotec, a Hamburg, Germany, company, whose acquisition of San Francisco-based Renovis in May could better position it to attract U.S. venture capital, is working on remedies for insomnia, Alzheimer's disease and smoking cessation.

Continue reading Can neurotech deliver on its growth promise? (ACOR, ACAD, EVTC)

Can neurotech deliver on its growth promise? (ACOR, ACAD, EVTC) originally appeared on BloggingStocks on Wed, 12 Nov 2008 13:35:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Friedman Billings downgraded Citrix Systems (NASDAQ: CTXS) to Market Perform from Outperform citing the departure of key executive John Burris, head of CTXS's sales and services organization. The firm lowered the target to $37 from $43.
  
• Banc of America cut Acadia Pharmaceuticals (NASDAQ: ACAD) to Sell from Buy following news the company's Phase IIb trial with ACP-104 for the treatment of schizophrenia did not meet its primary endpoint.
  
• Jefferies downgraded shares of Toreador Resources (NASDAQ: TRGL) to Underperform from Hold as they believe the breakdown in negotiations to sell a portion of the company's Black Sea interests raises concerns over financing and development efforts.

• Calgon Carbon (NYSE: CCC) was downgraded to Sell from Hold at Morgan Joseph.
  
• Deutsche Bank downgraded W-H Energy Services (NYSE: WHQ) to Hold from Buy.
  
• Cinemark (NYSE: CNK) and WPP Group (NASDAQ: WPPGY) were downgraded to Equal Weight from Overweight at Morgan Stanley.

Analyst downgrades: CTXS, ACAD and TRGL originally appeared on BloggingStocks on Tue, 17 Jun 2008 11:57:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• 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.

• Morgan Stanley upgraded Continental Airlines (NYSE: CAL) and Southwest Airlines (NYSE: LUV) to Overweight from Equal Weight.
  
• Bear Stearns raised its rating on Cincinnati Bell (NYSE: CBB) to Peer Perform from Outperform.

Analyst upgrades: ACAD, GNSS and STM originally appeared on BloggingStocks on Wed, 12 Dec 2007 11:29:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Robert W. Baird initiated coverage on VMware (NYSE: VMW) with a Neutral rating citing valuation.

• Citigroup started Bed Bath & Beyond (NASDAQ: BBBY) with a Hold rating, and cited the increasing competitive environment, slowing square footage growth and the weak housing market.

• Citigroup started Williams-Sonoma (NYSE: WSM) with a Sell rating and said the company has an inventory glut that could lead to markdown risk, there is raw material price inflation, and the weak housing market remains a material risk.

• Wachovia is cautious on Landstar System's (NASDAQ: LSTR) near-term growth rates and difficult end markets, starting shares with a Market Perform rating.

• Deutsche is positive on the potential of Acadia Pharmaceutical's (NASDAQ: ACAD) ACP-103 in schizophrenia, starting shares with a Buy rating...

• Cowen initiated Theravance (NASDAQ: THRX) with an Outperform rating and Cubist Pharmaceuticals (NASDAQ: CBST) with a Neutral rating.

• Raymond James initiated Akamai (NASDAQ: AKAM) with an Outperform and resumed coverage of McAfee (NYSE: MFE) with an Outperform rating.

• Goldman reinstated Foot Locker (NYSE: FL) with a Neutral rating.

Analyst initiations: AKAM, BBBY, MFE and WSM originally appeared on BloggingStocks on Tue, 21 Aug 2007 10:42:00 EST. Please see our terms for use of feeds.

Cramer backs a schizophrenia treatment...what are the odds? originally appeared on BloggingStocks on Tue, 05 Jun 2007 22:20:00 EST. Please see our terms for use of feeds.

IPO & secondary preview: Week of April 2, 2007 originally appeared on BloggingStocks on Mon, 02 Apr 2007 16:15:00 EST. Please see our terms for use of feeds.