Dendreon Corp. (NASDAQ:DNDN): Baird said Dendreon’s (NASDAQ:DNDN) Provenge may have a difficult road to commercial acceptance especially after this weekend’s ASCO meeting in which both Bristol Myers (NYSE:BMY) and Medivation (NASDAQ:MDVN) published impressive trial results for their prostate drugs. The firm lowered its 2014 and 2015 estimates for Provenge and said the drug may have trouble remaining relevant. Shares are Neutral rated.
Delcath Systems Inc. (NASDAQ:DCTH): Canaccord lowered Delcath’s price target to reflect the recently announced delay of the NDA filing and a dilution related to the recent equity offering. Shares remain Buy rated.
Johnson & Johnson (NYSE:JNJ): After Johnson & Johnson (NYSE:JNJ) presented data for its Zytiga chemo naive prostate cancer treatment that Wells Fargo views as robust, the firm thinks the data is sufficient for approval and commercial adoption. Despite the likelihood of increased competition, Wells expects Zytiga to generate $1B in sales this year and the firm thinks the peak sales potential is $2.3B in 2016. The firm maintains an Outperform rating on Johnson & Johnson.
Boeing Co. (NYSE:BA): After conducting checks, Sterne Agee believes that Boeing delivered at least 53 planes overall in May and is slated to deliver six or more 787 planes this month. The firm believes that 787 deliveries are tracking according to plan, and it maintains a Buy rating on Boeing.
Onyx Pharmaceuticals Inc. (NASDAQ:ONXX): Baird said Onyx presented both positive and negative data for Kyprolis at ASCO but believes it looks like a best-in-class protease inhibitor that will eventually gain approval. Baird said any weakness would make an attractive entry point but maintained its Neutral rating and raised its price target to $45 from $41.
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