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Jun 09, 2008
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 6/6 cls
Athersys (NASDAQ:ATHX) Cowen Leland Gershell New Market outperform -2% $3.17
Gershell expects pipeline progress to drive shares up over 30% relative to the market in 12-18 months. He anticipates data in 2Q09 from an upcoming Phase II trial of ATHX-105, a selective serotonin (5-HT2C) receptor agonist to treat obesity. Gershell thinks Phase III data for lorcaserin from Arena (NASDAQ:ARNA) to treat obesity may validate the mechanism it shares with ATHX-105.
Cortex (AMEX:COR) Rodman Elemer Piros Upgrade Market outperform (from underperform) 23% $0.96
Piros thinks positive data from two Phase IIa trials of CX717 for respiratory depression (RD) could rekindle investor interest. Data from the two trials of the allosteric modulator of the AMPA-type glutamate receptors are expected at the end of this month and next quarter.
Gentium (NASDAQ:GENT) Rodman Ren Benjamin Downgrade Market perform (from market outperform) -20% $5.36
Benjamin cited increased uncertainty and lack of clarity surrounding a Phase III trial of defibrotide to treat severe veno-occlusive disease (VOD) after an independent DSMB failed to conduct a futility analysis for a second time. He expects a year's delay for a launch and decreased the probability of market approval to 20% and 50%...

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