J&J and 2 Dow 30 Stocks BUZZING Now
Johnson & Johnson’s (NYSE:JNJ) results released on Sunday, that its Zytiga prostate treatment significantly increased survival rates in certain prostate cancer patients, could be the reason that shares of rival Dendreon (NASDAQ:DNDN) are falling Monday. The latter firm has its own prostate treatment, Provenge, and the good news for Zytiga is thought by analysts to be bad for Dendreon’s prospects. Roth Capital now thinks that Provenge is in greater danger of losing market share, and thus has sharply lowered its price target on Dendreon from $12 to $6.70, keeping its Neutral rating on the shares. Jefferies piles on, saying that Provenge might become a niche drug due to competition from Johnson & Johnson and Medivation (NASDAQ:MDVN), which has developed its own prostate cancer treatment, MDV3100. Jefferies keeps its $5 target and Underperform rating on Dendreon shares.
Merck & Co. Inc.’s (NYSE:MRK) comments from its presentation at Jefferies Global Healthcare Conference, include one-year data from phase III trial of suvorexant in patients with primary insomnia. The firm also said that it’s “very excited” to share more suvorexant data at a meeting next week in Boston.
Intel Corporation’s (NASDAQ:INTC) intro of its StudyBook tablet PC next year could boost shipments of its Classmate PC-series products to between 3 and 4 million units in 2013, says DigiTimes. It’s also expected that Intel’s Classmate PCs line might attain the 12 million unit milestone by the end of 2012.
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