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Dendreon pops on Bernstein upgrade

Jon "DRJ" Najarian (ask-drj@optionmonster.com)

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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