Analyst Insights: Salesforce.com, Medivation, BioMarin, Hospira May 14th

Salesforce.com (NYSE:CRM): Deutsche Bank said its channel checks indicate Salesforce.com underwent a large restructuring within its sales organization, which the firm believes could impact the company’s Q1 results. Deutsche lowered its Q1 and Q2 billings estimates to 28% from 30% and 29% respectively, but left its earnings estimates unchanged. Deutsche thinks Salesforce.com’s restructuring should be positive as the year progresses and maintains a Buy rating on the stock with a $215 price target. Jefferies believes Salesforce.com’s Q1 results should top estimates after its most recent channel checks were broadly positive. The firm believes the company’s business trends are positive and reiterates a Buy rating on the stock with a $170 price target.

Medivation, Inc. (NASDAQ:MDVN): Citigroup raised its price target for Medivation shares to $129 from $90 and added the stock to its Top Picks Live list after meeting with management. Citi believes enzalutamide’s monthly price might be higher than expected and keeps a Buy rating on the stock.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN): Citigroup raised its price target for BioMarin shares after meeting with management and keeps a Buy rating on the stock. The firm believes the company’s long-term tax rate will be lower than expected and notes that management was upbeat about the GALNS phase 3 trials and BMN-701.

Hospira Inc. (NYSE:HSP): Leerink says Hospira’s recall announced over the weekend involved overfilling opioid products, like the company’s recall in April. The firm believes the recall warrants monitoring as overfilling opioid products is a serious FDA concern and keeps a Market Perform on Hospira shares.

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