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Sep 14, 2009
 |  BioCentury  |  Analyst Picks & Changes

Analysts Picks & Changes

Analysts Picks & Changes

Company Bank Analyst Coverage Opinion Wk chg 9/11 cls Array BioPharma Inc. (NASDAQ:ARRY) UBS Jeff Elliott Downgrade Neutral (from buy) -3% $2.80 Elliot lowered his target to $3.25 from $5.50 after ARRY-162 plus methotrexate missed the primary endpoint of ACR20 in a Phase II trial to treat rheumatoid arthritis. Array said the placebo response rate was higher than expected, but Elliot does not anticipate any further development of the oral MEK inhibitor in inflammatory disease. He expects the company to focus on oncology (see BioCentury, Sept. 7). Orexigen Therapeutics Inc. (NASDAQ:OREX) Lazard William Tanner Price target Buy 11% $8.96 Tanner raised his target to $10 from $8 on the positive Phase III obseity data for Qnexa from Vivus Inc. (NASDAQ:VVUS). He thinks the results bode well for Orexigen's Contrave, a fixed-dose combination of naltrexone and bupropion that he said had similarly positive efficacy data (see "Qnexa Comps," A13). Osiris Therapeutics Inc. (NASDAQ:OSIR) Jefferies Eun Yang Price target Underperform -35% $7.94 JMP Securities Charles Duncan Price target Market outperform Piper Jaffray Edward Tenthoff Downgrade Neutral (from...

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