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12:00 AM
Nov 17, 2008
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 11/14 cls
Advanced Life (NASDAQ:ADLS) Susquehanna Angela Larson Price target Net positive -21% $0.23
Larson lowered her target to $2 from $2.50. She noted the company will have to find a partner for cethromycin or raise equity before January, as it is running low on cash, and said she has doubts as to whether a partner will be found for the U.S., Japan and Europe. Cethromycin, a ketolide antibiotic, is partnered with Wyeth (NYSE:WYE) in 24 Asia-Pacific countries and is under review in the U.S. for mild-to-moderate community-acquired pneumonia (CAP). Larson also questioned if the company would not be better off with fewer employees.
Alkermes (NASDAQ:ALKS) Roth Capital Partners Scott Henry Price target Buy -4% $7.65
Henry lowered his target to $14 from $16 to account for increased risk to exenatide once weekly. He gives a 50% probability of approval for the long-acting release formulation of Byetta exenatide. Earlier this month, Amylin (NASDAQ:AMLN) and Alkermes said data for exenatide once weekly have not met FDA requirements to demonstrate comparability between product used in clinical trials and product manufactured on a commercial scale. Exenatide once weekly, which uses Alkermes' Medisorb drug delivery technology, is in Phase III testing. It is partnered with Eli Lilly (NYSE:LLY) (see BioCentury, Nov. 4).

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