Medicis-Valeant Merger Likely to Proceed and 3 Stock Analyses to Note
Dyax Corp. (NASDAQ:DYAX) is believed by JMP Securities to have the ability to deal with several of the FDA panel’s concerns, and the firm believes that there is a good probability that the company’s vaccine is approved. The firm recommends purchasing shares on weakness, and it reiterates its Outperform rating and $6 price target on the stock.
Adobe Systems Inc. (NASDAQ:ADBE): According to JMP Securities, Autodesk’s (ADKS) weaker Q3 revenue than predicted is a possible negative for Adobe, especially since Adobe is in the process of transitioning from desktop to cloud software like Autodesk. The firm maintains its Underperform rating and $26 price target on the stock.
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Medicis Pharmaceutical Corp. (NYSE:MRX) response to Q-med’s request for a Preliminary Injunction to enjoin the merger of Medicis and Valeant is believed by RBC Capital to indicate the high probability that the merger will proceed.
Ctrip.com International Ltd. (NASDAQ:CTRP)stated that eLong’s (NASDAQ:LONG) Q3 results represent a 70 percent rise in its hotel booking along with a revenue increase of 24 percent, which exceeded Ctrip.com’s 40 percent volume and 11 percent revenue growth during the quarter. Citi thinks that Ctrip has been losing market share to eLong, and eLong is not likely to cease its coupon program. The firm keeps its Sell rating on the stock.