Anika Therapeutics, Inc. (NASDAQ: ANIK) and BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) were both added to the Zacks #5 Rank List today, which is the list that is called its STRONG SELL LIST.  This does not usually create huge moves on the day as investors discount these rankings but they may need to be reviewed for the longer-term outlooks in the calls.

Cubist Pharmaceuticals Inc. (NASDAQ: CBST) is set to report earnings after the close of trading today and investors will be watching closely as the infection-fighting leader is up substantially over the last two years.  Thomson Reuters has estimates of $0.44 EPS and $209.4 milllion in sales.  This one is no longer cheap at 22-times this year’s expected earnings and 20-times expected 2013 earnings.  This is on the heels of the company announcing positive results from its ENTEREG Phase 4 study in radical cystectomy procedures.

Dendreon Corporation (NASDAQ: DNDN) was noted on CNBC’s Mad Money last night by Jim Cramer as being too speculative without the sales numbers to warrant a buy.

Gilead Sciences, Inc. (NASDAQ: GILD) has said that it will present 30 abstracts covering its products and investigational agents for hepatitis B and C at the Annual Meeting of the European Association for the Study of the Liver (a.k.a. the International Liver Congress 2012) taking place April 18-22 in Barcelona, Spain.  Some data is new and other data is further advancement data.

Illumina Inc. (NASDAQ: ILMN) has lost much of its takeover hopes as the company is fighting to say that the $51 offer from Roche greatly undervalues the company.  Some call it the “Apple of Genomics” but shares have slid from over $52 down to $44 in recent days against a 52-week range of $25.57 to $79.40.  Shareholders are expected to vote today.  Call options were about 3-times normal trading volume yesterday.

Targacept (NASDAQ: TRGT) is likely to get some interest after Barron’s noted that it could be a long-ball stock triple.  Keep in mind that this is down 80% and it has a poor record so far.  Barron’s touted it as a developer which “partners with major drug companies to create novel therapies for depression, diabetes and Alzheimer’s disease.”

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JON C. OGG

Anika Therapeutics Inc. (NASDAQ: ANIK) moving up after reporting solid first quarter earnings this morning. The leader in tissue protection products and healing and repair based on hyaluronic acid (“HA”) technology showed double digit revenues in each product line for total revenue growth of 39%. Shares are up over 12% at $9.68. The 52-week range is $7.85 to $22.49.

Athersys, Inc. (NASDAQ: ATHX) dropping a whopping 23% today on no relevant news. Shares are down $0.70 to $2.30. The 52-week range is $1.55 to $10.00.

Halozyme Therapeutics, Inc. (NASDAQ: HALO) up over 8% to $5.37. They announced that first quarter earnings will be released May 8 after market close and on May 9 they will provide a pipeline update. The 52-week range is $4.19 to $11.00.

Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) announced today that under its collaboration agreement with Merck (NYSE: MRK), they achieved a preclinical milestone with a novel Toll-Like Receptor 9 agonists for an adjuvant in cancer vaccines. Idera should receive a milestone payment from Merck. Idera is up 3% to $14.34 off a 52-week range of $6.21 to $14.00. Merck is up over 1% to $38.77 on a 52-week range of $ 36.80 to $61.62. 

Obagi Medical Products, Inc. (NASDAQ: OMPI) is up over 7% to $8.62 on now news. The 52-week range for the skincare developer is $6.80 to $25.60.

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) up 5% today after first quarter results were released this morning. They showed a loss of $11.6 million, or $0.15 EPS, narrower than the $29.9 million loss in first quarter 2007. Shares are up $1.11 to $20.73. The 52-week range is $13.55 to $28.74.

SCOLR Pharma Inc. (AMEX: DDD) up over 8% today after announcing that it entered into a lease buyout deal to move into a cheaper location, with the proceeds of over $4 million, the company said it will be able to fund 2009 expenses. Shares are trading at $1.26. The 52-week range is $0.13 to $4.07.

Sequenom Inc. (NASDAQ: SQNM) up today after reporting financial results after close yesterday. They posted a net loss of $8.6 million compared to a loss of $3.8 million in first quarter last year. Revenues increased by 7%. Shares are trading up over 8% to $6.85 on a 52-week range of $3.16 to $11.63.

Rachel Lopez
May 1, 2008