Posts for Ticker ‘WX’

Top Analyst Downgrades (AYE, AU, BJS, CEO, SLB, WX)

These are some of the general analyst downgrades we have seen this Monday morning from Wall Street:

Allegheny Energy (AYE) Cut to Neutral at Goldman Sachs.
Anglogold (AU) Cut to Neutral at UBS.
BJ Services (BJS) Cut to Hold at Jefferies.
CNOOC (CEO) Cut to Neutral at Credit Suisse.
Schlumberger (SLB) Cut to Hold at Jefferies.
WuXi PharmaTech (WX) Cut to Underperform at Jefferies.

JON C. OGG

Posted on: May 18, 2009 – 6:49 am in Analyst Calls, , , , , ,

Winning Stocks on a Down Week (ADY, BCRX, DDRX, DGI, FAZ, LORL, RHT, WX)

This was a week of profit taking and a probable realization that a move of 30% and more from the lows in March was probably a bit much in the face of only consistent “less-bad” economic data.  But as every optimist says, “There is always a bull market somewhere.”  We saw a drop of  about -3.6% to 8,268.64, while the S&P 500 Index slid by -4.% to 882.88.  The NASDAQ was the ‘better’ of the losers with a drop of -3.4% to 1,680.14.  But there are many standout stocks, and some of the key big movers and winners this week were American Dairy Inc. (NYSE: ADY), Biocryst Pharmaceuticals Inc. (NASDAQ: BCRX), Diedrich Coffee Inc. (NASDAQ: DDRX), DigitalGlobe, Inc. (NYSE: DGI), Direxion Daily Financial Bear 3X Shares (NYSE: FAZ), Loral Space & Communications, Inc. (NASDAQ: LORL), Red Hat Inc. (NYSE: RHT) and WuXi PharmaTech Inc. (NYSE: WX).

Believe it or not, some of these are up exponentially off of the lows.  One is up 30-fold from the end of March, and amazingly the best winners were not in tech or biotech.  We have provided a weekly synopsis and the reason for their from the lows.
Read More »

Posted on: May 16, 2009 – 8:10 am in HI/LOW, The Week, Trading Alert, Turnarounds, , , , , , , ,

WuXi PharaTech, Worth More on Secondary Cancellation (WX)

WuXi PharmaTech (Cayman) Inc. (NYSE: WX) announced today that it has decided to postpone its follow-on offering of American Depository Shares "due to current market conditions and share price."

Credit Suisse Securities and JP Morgan Securities were lead underwriters and joint book-runners for the offering that was originally filed April 4. Some of the shares that were being sold were for existing shareholders and some share sale proceeds were to be used for existing factory expansions and for general corporate purposes.

The Chinese and U.S.-based pharmaceutical, biotechnology, and medical device "outsourcing" company is trading up 2% at $19.10 in early morning trading and when the offering was first announced, WuXi was trading at about $23.50. WuXi has a 52-week range of $17.43 to $45.65.

You can join our open email distribution list to keep up with other developments in secondary offerings, IPO’s, mergers, spin-offs, and other specialty financings.

Rachel Lopez
May 6, 2008

Posted on: May 6, 2008 – 10:12 am in China, Drug companies, Secondary Offering,

WuXi PharmaTech Secondary Filing Pressures Stock (WX)

WuXi PharmaTech (Cayman) Inc. (NYSE: WX) has filed for a secondary offering of ADR’s in the US for 10,126,800 shares, or 11,645,820 if the overallotment option is used.  The underwriting managers are listed as Credit Suisse and JPMorgan.

WuXi PharmaTech is a Chinese outsourced medical development company for biotech, pharmaceuticals, and medical devices.  It does research and development with operations in China and in the U.S.  More specific services are as follows: laboratory services consisting of discovery chemistry, service biology, toxicology, pharmaceutical development, analytics, device testing, and other related contract R&D services.  It also provides manufacturing services that focus on advanced intermediates, active pharmaceutical ingredients, and biologics-based manufacturing, testing and related services.  The company acquired AppTec Laboratory Services, Inc., in January 2008, and had previously focused primarily on chemistry operations, providing services to more than 80 pharmaceutical and biotechnology customers.

Some shares are being sold by shareholders and some will be used for existing factory expansions and for general corporate purposes.

Facilities in China are as follows:

  • primary China-based facilities include a 630,000 square-foot R&D center in Shanghai Waigaoqiao Free Trade Zone;
  • a 220,000 square-foot process development and cGMP-quality manufacturing plant in Jinshan area of Shanghai;
  • and a 130,000 square-foot R&D center in Tianjin, which is mainly focused on discovery chemistry services.

The AppTec acquisition gave a U.S. presence and know-how in biologics, including three FDA-registered, U.S.-based facilities as follows:

  • a 63,000 square-foot R&D and manufacturing facility in St. Paul, Minnesota;
  • a 46,000 square-foot testing facility in Atlanta, Georgia;
  • and a 75,000 square-foot R&D, testing and manufacturing facility in Philadelphia, Pennsylvania.

Its net revenues and income increases follows:

  • 2005 showed $33.8 million revenues and $6.1 million net income;
  • 2006 showed $69.9 million revenues and $8.9 million net income;
  • 2007 showed $135.2 million revenues and $33.9 million net income;
  • unaudited post-AppTec acquisition results would show revenues of $205.5 million and net income $34.7 million.

WuXi Pharmaceuticals stock is trading down 5% today at $22.30 in early afternoon trading.  Its 52-week trading range is $18.27 to $45.65, and the current market cap is listed as $1.37 Billion.  As of last look on the NYSE short interest, we show the March 2008 short interest listed as just over 2.7 million shares.

To hear about other secondary offerings, IPO’s, special financings, and other special situations you can join or open email distribution list.

Jon C. Ogg
April 4, 2008

Posted on: April 4, 2008 – 12:44 pm in Biotech, Drug companies, Secondary Offering,

Top 10 Pre-Market Analyst Calls (BA, OMTR, PAS, RRGB, CRM, PCU, TSM, TEVA, WLP, WX)

Below are the top 10 analyst calls we are focusing on this morning:

  • Boeing (NYSE: BA) raised to Overweight at Morgan Stanley.
  • Omniture (NASDAQ: OMTR) raised to Buy at Jefferies.
  • PepsiAmericas (NYSE: PAS) raised to Buy at Deutsche Bank.
  • Red Robin Gourmet (NASDAQ: RRGB) raised to Overweight at JP Morgan; started as Buy at Jefferies.
  • Salesforce.com (NYSE: CRM) Started At Buy at Broadpoint.
  • Southern Copper (NYSE: PCU) started as Underweight at JP Morgan.
  • Taiwan Semiconductor (NYSE: TSM) raised to overweight at Lehman Brothers.
  • Teva Pharmaceuticals (NASDAQ: TEVA) cu to Hold at Citigroup.
  • WellPoint (NYSE: WLP) downgraded to Neutral at Banc Of America.
  • WuXi PharmaTech (NYSE: WX) raised to Buy at Jefferies.

Jon C. Ogg
March 14, 2008

Posted on: March 14, 2008 – 7:09 am in Analyst Calls, , , , , , , , , ,

Pre-Market Analyst Calls (September 18, 2007)

CAM cut to Mkt Perform at Wachovia.
CYPB started as Buy at Citigroup.
DMAN started as Outperform at Credit Suisse.
ENB raised to Outperform at CIBC.
ERTS started as Buy at Goldman Sachs.
ETFC cut to Neutral at Goldman Sachs.
FMC cut to Underperform at Wachovia.
GET started as Buy at Jefferies.
GM cut to Neutral at Goldman Sachs.
HHS cut to Underweight at JPMorgan.
ITW cut to Hold at BB&T.
KWD cut to Neutral at First Albany.
LCAPA started as Outperform at Wachovia.
LMT raised to Buy at Merrill Lynch.
MEND cut to Sector Perform at CIBC.
MYGN started as Hold at Citigroup.
NCI cut to Neutral at Merrill Lynch.
NLY started as Buy at JMP Securities.
ONNN raised to Outperform at Wachovia.
PETD started as Buy at Sun Trust Robinson Humphrey.
RRR raised to Overweight at Lehman.
SRVY raised to Overweight at Lehman.
SSL cut to Neutral at UBS.
VC raised to Neutral at Goldman Sachs.
WBD cut to Neutral at Credit Suisse.
WX started as Neutral at JPMorgan.

Jon C. Ogg
September 18, 2007

Posted on: September 18, 2007 – 7:07 am in Analyst Calls, , , , , , , , , , , , , , , , , , , ,