BioHealth Upgrades & Downgrades on Wall Street (GHDX, GENZ, GSK, ISPH, LXRX, MEDX, MRK, QLTI, SHPGY)
There have been other calls in drug, biotech, and healthcare stocks today but these are the key standouts that have been seen making an impact on stocks after the open of trading:
- Genomic Health (GHDX) Cut To Hold at Canaccord.
- Genzyme (GENZ) Started as Overweight at Morgan Stanley.
- GlaxoSmithKline (GSK) Cut to Sell at Goldman Sachs.
- Inspire Pharma (ISPH) Cut To Underweight at Morgan Stanley.
- Lexicon Pharma (LXRX) Cut to Underweight at Morgan Stanley.
- Medarex (MEDX) Cut to Equalweight at Morgan Stanley.
- Merck (MRK) Raised to Buy at Goldman Sachs.
- QLT (QLTI) Cut to Underweight at Morgan Stanley.
- Shire (SHPGY) Cut to Neutral from Buy at Goldman Sachs.
Jon C. Ogg
September 8, 2008
Short Sellers Lighten Up on Major Biotechs in May
We ran the short selling report that just came out on major NASDAQ biotech stocks to see what the change in short selling was. Interestingly enough, in almost all of the major and large US biotechs traded on NASDAQ.
STOCK (Ticker) MAY 30 MAY 15 CHANGE
Amgen Inc. (AMGN) 22,678,517 24,778,770 -8.48%
Biogen Idec Inc. (BIIB) 6,346,464 6,788,432 -6.51%
Celgene Corporation (CELG) 13,775,373 16,336,232 -15.68%
Genzyme Corporation (GENZ) 5,684,945 5,621,969 +1.12%
Gilead Sciences, Inc. (GILD) 32,478,444 32,690,603 -0.65
ImClone Systems Inc. (IMCL) 7,149,395 7,664,009 -6.71%
And below you can see the short selling changes on some of the smaller biotechs that are still rather active in daily trading volume. The results below are more mixed than they are in the major biotechs.
STOCK (Ticker) MAY 30 MAY 15 CHANGE
Amylin Pharmaceuticals, Inc. (AMLN) 23,855,471 23,642,854 +0.90%
Cell Genesys, Inc. (CEGE) 16,931,592 17,222,281 -1.69%
Dendreon Corporation (DNDN) 31,117,812 30,728,499 +1.27%
Illumina, Inc. (ILMN) 12,239,553 11,902,877 +2.83
Invitrogen Corporation (IVGN) 9,125,954 9,340,210 -2.29%
Medarex, Inc. (MEDX) 21,837,573 19,682,828 +10.95%
Jon C. Ogg
June 11, 2008