Small biotech and year-old new issue Alder BioPharmaceuticals (ALDR) soared more than 12% to a new high near 40 on Friday after it presented positive clinical-trial data on its migraine drug candidate, presenting a challenge to such larger players as Amgen (AMGN), Eli Lilly (LLY) and Teva Pharmaceutical (TEVA). Alder said that a single intravenous injection of its drug candidate ALD403 was still working in patients six months later, with 61%
Pacific Crest upgraded enterprise software maker Aspen Technology (AZPN) to overweight Friday, saying license revenue could grow in double digits for a number of years. Analyst Monika Garg wrote that Aspen has “presented a roadmap of new innovations that would increase its addressable market,” which it now estimates at about $10.9 billion, up from its earlier appraisal of $10.1 billion. She added that although Aspen focuses on the energy industry,
On Thursday, Pacific Crest Securities said that Netflix’s (NFLX) ambitions are becoming clearer and “more frightening” to traditional programmers. And if they weren’t frightened then, they may have more reason to be now. Netflix is reportedly in talks to enter the China market, where there’s a vast and still growing online audience. That could further fuel the video streaming service’s subscriber growth, which was bigger-than-expected in Q1.