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MOST NOTEWORTHY: GTX Inc, Akeena Solar and NexMed were today's noteworthy initiations:
- Rodman & Renshaw is positive on GTX Inc's (NASDAQ: GTXI) opportunity for Acapodene in prostate cancer and Ostarine for muscle wasting. The firm started shares with an Outperform rating and $22 target.
- Akeena Solar (NASDAQ: AKNS) was initiated with a Buy rating at Merriman. The firm believes the company is positioned to generate a high margin recurring revenue stream through the licensing of its Andalay proprietary rack mounting system.
- Roth Capital expects NexMed's (NASDAQ: NEXM) Phase III data for its antifungal Lamisil, expected in mid-2008, to be positive. The firm, which started NexMed with a Buy rating and $2.50 target, said early clinical data demonstrated a roughly 7-8X improvement in fungal reductions versus the competitive topical formulation sold as Penlac. The analyst said Phase III trial will admittedly have a different end point, but this data makes them bullish.
OTHER INITIATIONS:
- Lehman initiated Liberty Entertainment (NASDAQ: LMDIA) with an Overweight rating and $30 target.
- Canaccord Adams assumed Priceline.com (NASDAQ: PCLN) with a Hold rating and $120 target.
- Home Inns (NASDAQ: HMIN) was started at Morgan Stanley with an Overweight rating and $28 target.
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