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Noble Corp. (NYSE:NE) has been removed from FBR Capital’s Top Pick list.
Curis Inc. (NASDAQ:CRIS): According to Piper Jaffray, the launch of Erivedge has had a solid start, and the firm views shares of Curis as compelling ahead of a number of pipeline drivers. The firm keeps an Overweight rating and a $7 price target on the stock.
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Kraft Foods Inc. (NYSE:KFT): Following a meeting with Kraft’s management, BMO Capital thinks that the market overreacted in regards to the company’s disappointing 2013 base EPS guidance and capital structure. The firm continues to be optimistic on the outlook for both of the units which are to be spun off by the company on October 1, and it keeps an Outperform rating on the shares.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN): Following a meeting with management, Piper Jaffray stated that it expects that BioMarin’s BMN-701 Phase II data will support the drug’s ability to cannibalize Genzyme’s Lumizyme and possibly will drive shares above its price target of $53. Piper believes that GALNS and BMN-701 data may add $2 billion to BioMarin’s top line, and the firm keeps an Overweight rating on BioMarin shares.
Level 3 Communications Inc. (NASDAQ:LVLT): Cowen stated that shares of Level 3 are significantly undervalued due to the company’s bookings growth, success of the combined sales force from its recent acquisition, and its second half pipeline. Shares have an Outperform rating.
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