Company

Bank

Analyst

Coverage

Opinion

Wk chg

11/15 cls

Cellular Dynamics International Inc. (NASDAQ:ICEL)

Leerink

Dan Leonard

Downgrade

Market perform (from outperform)

-5%

$14.79

Leonard downgraded but maintained his $15 target after Cellular Dynamics reported 3Q13 revenues of $2.5M, below his $2.7M estimate. Leonard said he had expected the company to win an additional contract or partnership for its induced pluripotent stem cells (iPSCs) by now. He lowered his revenue forecast to $11.7M from $13.1M for 2013, $26.3M from $33.1M for 2014, and $47.8M from $56.6M for 2015. Cellular Dynamics provides iPSC technologies for in vitro drug development, stem cell banking and in vivo cellular therapeutic research.

Exelixis Inc. (NASDAQ:EXEL)

Maxim Group

Echo He

Upgrade

Buy (from hold)

6%

$5.29

He upgraded and set a $7.50 target ahead of potential positive data from a Phase III trial with cobimetinib (GDC-0973) to treat metastatic melanoma in 2014. He also expects an NDA submission in 2014, and estimates global peak sales of $790M, of which about $130M will be recorded by Exelixis. The Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY) has worldwide rights to MEK inhibitor from Exelixis.