Filed under: Analyst initiations

MOST NOTEWORTHY: Cougar Biotechnology, Icagen and SuccessFactors were today’s noteworthy initiations:

• Rodman & Renshaw expects Cougar Biotechnology’s (NASDAQ: CGRB) lead drug, abiraterone acetate, which has shown encouraging signs of activity in both chemotherapy-naive and hormone-refractory prostate cancer patients, to initiate Phase III trials in 2008 and make it to the market in 2011. The firm started shares with a Market Outperform rating and $36 target.
• Rodman said Icagen (NASDAQ: ICGN) is focused on the development of small molecule drugs that control ion channels and has emerged as a leader by focusing on epilepsy, pain and immuno-inflammation. The firm initiated shares with a Market Outperform rating.
• JMP Securities initiated SuccessFactors (NASDAQ: SFSF) with a Market Outperform rating and is positive on the company’s revenue and bookings growth. JP Morgan initiated SuccessFactors with an Overweight rating.

OTHER INITIATIONS:

• Lehman initiated Calpine (OTC: CPNLQ) with an Overweight rating.
• Goldman Sachs initiated Kenexa (NASDAQ: KNXA), Thomson (NYSE: TMS) and Taleo (NASDAQ: TLEO) with Neutral ratings.

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This entry was posted on Wednesday, January 2nd, 2008 at 3:04 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.