UBS on Friday raised its rating on Iomai Corp. shares to "buy" from "neutral," expecting positive news in the next six months.
The brokerage said in its research note the upgrade is based on both valuation and anticipation of the next six months, which could be relatively active on both the clinical and business development fronts.
UBS sees a partnership for the needle free flu vaccine forthcoming within the next several months, which would drive further development of the program beyond phase I/II.
The brokerage maintained its price target of $5.00 on the stock, which closed at $3.47 Thursday on the Nasdaq. Shares were trading up 28.2% to $4.45 on Friday.
Allscripts Healthcare Solutions (MDRX) sank following a downgrade of the stock by UBS analyst Donald Hooker to reduce from neutral. UBS maintained its price target of $18. Shares were down 6% to $20.22. Separately, Allscripts said California's Riverside Physician Network has decided to use the company's TouchWorks Electronic Health Record technology to connect its network of 200 doctors.
Cancer drugmaker Celgene saw its shares move lower after investment firm Goldman Sachs initiated coverage of the stock with a neutral rating and a $50 price target. While the company has strong sales momentum and improving margins, according to biotech analyst May-Kin Ho, Celgene faces reimbursement pressures as off-label use of its drugs are under increasing scrutiny. The company's blood cancer drugs Revlimid and Thalomid also face competitive pressure from Millennium Pharmaceuticals' (MLNM) Velcade. Shares fell 2.6% to $43.46.
Idenix Pharmaceuticals (IDIX) shares sank 6.7% to $8.81 on a downgrade by investment firm Goldman Sachs. While May-Kin Ho deems the hepatitis B drugmaker's research pipeline "above average," she says the hepatitis B market is limited and the company has plenty of competition from companies like Gilead (GILD) and Bristol-Myers Squibb (BMY) . Ho downgraded the stock to neutral from buy and set a 12-month price target of $11.
Adams Respiratory Therapeutics' (ARXT) shares fell 7.2% to $41.84 after the company said an unnamed competitor submitted an application to the Food and Drug Administration to sell a drug that could be pitted against its over-the-counter expectorant Mucinex. Also on Friday, Adams filed a registration statement covering more than 10 million shares held by institutional investors as part of a contractual obligation.
Other health stocks falling were Affymetrix (AFFX) , whose shares sank 4% to $21.24; generic drugmaker Teva Pharmaceutical (TEVA) , down 1.3% to $34.17; nervous-system drug developer Vanda Pharmaceuticals (VNDA) , 5.7% lower to $9.27; IDM Pharma (IDMI) , whose shares fell 6.7% to $2.33; and Cyclacel Pharmaceuticals (CYCC) , down 4.6% to $5.16.
Moving higher were medical-device maker Medtronic (MDT) , up 2.2% to $45.49; Allied Healthcare International (AHCI) , up 12% to $1.68; Dynacq Healthcare (DYII) , up 8.7% to $2; SGX Pharmaceuticals (SGXP) , up 5% to $4.95; and Natural Health Trends (BHIP) up 6.3% to $2.55.
The brokerage said in its research note the upgrade is based on both valuation and anticipation of the next six months, which could be relatively active on both the clinical and business development fronts.
UBS sees a partnership for the needle free flu vaccine forthcoming within the next several months, which would drive further development of the program beyond phase I/II.
The brokerage maintained its price target of $5.00 on the stock, which closed at $3.47 Thursday on the Nasdaq. Shares were trading up 28.2% to $4.45 on Friday.
Allscripts Healthcare Solutions (MDRX) sank following a downgrade of the stock by UBS analyst Donald Hooker to reduce from neutral. UBS maintained its price target of $18. Shares were down 6% to $20.22. Separately, Allscripts said California's Riverside Physician Network has decided to use the company's TouchWorks Electronic Health Record technology to connect its network of 200 doctors.
Cancer drugmaker Celgene saw its shares move lower after investment firm Goldman Sachs initiated coverage of the stock with a neutral rating and a $50 price target. While the company has strong sales momentum and improving margins, according to biotech analyst May-Kin Ho, Celgene faces reimbursement pressures as off-label use of its drugs are under increasing scrutiny. The company's blood cancer drugs Revlimid and Thalomid also face competitive pressure from Millennium Pharmaceuticals' (MLNM) Velcade. Shares fell 2.6% to $43.46.
Idenix Pharmaceuticals (IDIX) shares sank 6.7% to $8.81 on a downgrade by investment firm Goldman Sachs. While May-Kin Ho deems the hepatitis B drugmaker's research pipeline "above average," she says the hepatitis B market is limited and the company has plenty of competition from companies like Gilead (GILD) and Bristol-Myers Squibb (BMY) . Ho downgraded the stock to neutral from buy and set a 12-month price target of $11.
Adams Respiratory Therapeutics' (ARXT) shares fell 7.2% to $41.84 after the company said an unnamed competitor submitted an application to the Food and Drug Administration to sell a drug that could be pitted against its over-the-counter expectorant Mucinex. Also on Friday, Adams filed a registration statement covering more than 10 million shares held by institutional investors as part of a contractual obligation.
Other health stocks falling were Affymetrix (AFFX) , whose shares sank 4% to $21.24; generic drugmaker Teva Pharmaceutical (TEVA) , down 1.3% to $34.17; nervous-system drug developer Vanda Pharmaceuticals (VNDA) , 5.7% lower to $9.27; IDM Pharma (IDMI) , whose shares fell 6.7% to $2.33; and Cyclacel Pharmaceuticals (CYCC) , down 4.6% to $5.16.
Moving higher were medical-device maker Medtronic (MDT) , up 2.2% to $45.49; Allied Healthcare International (AHCI) , up 12% to $1.68; Dynacq Healthcare (DYII) , up 8.7% to $2; SGX Pharmaceuticals (SGXP) , up 5% to $4.95; and Natural Health Trends (BHIP) up 6.3% to $2.55.
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