12:00 AM
Nov 03, 2008
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 10/31 cls
Alnylam (NASDAQ:ALNY) Piper Jaffray Edward Tenthoff Price target Neutral 9% $23.00
Tenthoff lowered his target to $22 from $36, citing slow pipeline progress. The company's ALN-RSV01, a respiratory syncytial virus-specific short interfering RNA (siRNA), won't begin a naturally infected pediatric trial to treat RSV infection until later this year, with data not expected until 2010. Also, Alnylam has pushed out IND submissions for ALN-VSP01 to treat liver cancer and ALN-PCS01 for high cholesterol to year-end and 2009, respectively.
AMAG (NASDAQ:AMAG) Canaccord Adam Cutler New Buy -3% $30.58
Cutler set a $57 target, which he based on a 50% probability that ferumoxytol will be approved to treat iron deficiency anemia in chronic kidney disease (CKD) patients in time for a 1Q09 launch. The company received a complete response letter from FDA for the IV iron replacement therapeutic agent last month, but said it believes it will not need to conduct additional trials (see BioCentury, Oct. 27).
Biogen Idec (NASDAQ:BIIB) Cowen Eric Schmidt Upgrade Market outperform (from neutral) 3% $42.55
UBS Maged Shenouda Upgrade Neutral (from sell)
Schmidt set a target of $52-$61, prior to Wednesday's disclosure of new case of progressive multifocal leukoencephalopathy (PML) in a multiple sclerosis patient treated with Tysabri natalizumab (see B7). He thinks Biogen Idec is undervalued because of the PML cases....

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