Dendreon pops on Bernstein upgrade
Drug Maker Raised to Outperform
Dendreon was upgraded to "outperform" from "market perform" by Sanford C. Bernstein, which also raised its target price on the drug maker to $10 from $7. DNDN climbs 14 percent before the bell on my tradeMONSTER platform.
Xyratex Earnings Miss the Mark
Xyratex reported a fourth-quarter loss of $0.32, wider than the $0.24 expected by analysts. It additionally forecast first-quarter revenue of $159 million to $189 million, below the $207 million consensus estimate. XRTX is down 4 percent in the premarket.
ArQule Drops on Phase 2 Trial Results
ArQule announced that its tivantinib cancer drug failed to meet its primary endpoint in a randomized phase 2 trial. Development of the compound continues, but ARQL is down 20 percent in early trading.
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