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Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 11/30 cls
Addex (SWX:ADXN) Helvea Olav Zilian New Buy 18% CHF36.50
Zilian last week set a target of CHF66 and said the company's allosteric modulators could be of "strategic value to big pharmaceutical companies," which positions it on the path to a "string of licensing deals."
Axcan (TSX:AXP; AXCA) Dundee David Martin Rating change Tender (from neutral) 27% $22.58
Punk Geoffrey O'Brien Downgrade Sell (from market perform)
Martin last week raised his target to US$23.35 from US$21 on news that the gastrointenstinal play is being acquired by TPG Capital for US$23.35 per share, or US$1.3B in cash (see "Ebb & Flow," A14).
O'Brien raised his target to US$23.35 from US$12 on the take-out news.
Cardiome (TSX:COM; CRME) Leerink Joseph Schwartz Other Market outperform -5% $9.97
Schwartz last week lowered his valuation to $16 from $17 after CRME delayed interim Phase IIb trial results for oral vernakalant to prevent recurrence of atrial fibrillation. The delay, until March 2008, will allow it to have at

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