The unofficial closing bells put the DJIA down about 17 points to 12,845.20 (-0.13%), the NASDAQ fell almost 4 points (-0.13%) to 2,901.99, and the S&P 500 fell -0.04% or less than 1 point to 1,344.33.

There were several analyst upgrades and downgrades today, including FedEx Corp. (NYSE: FDX) raised to ‘buy’ at BofA/ML; Weyerhaeuser Co. (NYSE: WY) cut to ‘sell’ at UBS; Comerica Inc. (NYSE: CMA) raised to ‘outperform’ at RBS; Corning Inc. (NYSE: GLW) raised to ‘outperform’ at Piper Jaffray; and Royal Dutch Shell plc (NYSE: RDS-A) cut to ‘neutral’ at Credit Suisse.

Earnings reports since markets closed last week have led to some price changes as of the last half hour of trading today: Integrated Device Technology Inc. (NASDAQ: IDTI) is down -0.98% at $6.60; McKesson Corp. (NYSE: MCK) is up 1.71% at $82.18; Plum Creek Timber Co. Inc. (NYSE: PCL) is up 0.32% at $39.81; Changyou.com Ltd. (NASDAQ: CYOU) is down -12.43% at $25.50; Humana Inc. (NYSE: HUM) is down -5.8% at $84.90; Lazard Ltd. (NYSE: LAZ) is down -4.3% at $27.65; Loews Corp. (NYSE: L) is down -0.85% at $38.28; and Sysco Corp. (NYSE: SYY) is down -4% at $29.66.

Other standouts from today include the following stocks:

SureWest Communications (NASDAQ: SURW) is up more than 44% at $22.50 after posting a new 52-week high of $22.69 earlier. The telecom provider has agreed to be acquired by Consolidated Communications Holdings Inc. (NASDAQ: CNSL) for about $341 million, or $23/share.

O’Charley’s Inc. (NASDAQ: CHUX) is up nearly 42% at $9.81 after posting a new 52-week high of $9.88. The company has agreed to be acquired by Fidelity National Financial Inc. (NYSE: FNF) for $221 million, about $9.85/share.

Sohu.com Inc. (NASDAQ: SOHU) is down nearly -15% at $53.61. The Chinese internet company posted solid earnings, but its Q1 forecast was below expectations.

Great Basin Gold Ltd. (AMEX: GBG) is down -11% at $1.05. The junior gold miner reported preliminary results today that were worse than expected and lowered first quarter production estimates.

Dendreon Corp. (NASDAQ: DNDN) is up about 17.6% at $16.66. The drug maker is getting a boost from a negative report on a prostate cancer drug treatment that would compete with Dendreon’s Provenge.

Stay tuned for Tuesday. Federal Reserve chairman Ben Bernanke testifies before Senate Budget Committee. We have noted the following events on the schedule (all times Eastern):

• 11:30 a.m. – 4- and 52-week Treasury bill auction
• 3:00 p.m. – Consumer credit report

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Paul Ausick

The 24/7 Wall St. Top Analyst Calls of the Week were in shares of the following: AT&T Inc. (NYSE: T); Automatic Data Processing, Inc. (NYSE: ADP); Best Buy Co., Inc. (NYSE: BBY); Chesapeake Energy Corporation (NYSE: CHK); Dendreon Corporation (NASDAQ: DNDN); E*TRADE Financial Corporation (NASDAQ: ETFC); J.C. Penney Company, Inc. (NYSE: JCP); J.P. Morgan Chase & Co. (NYSE: JPM); Goldman Sachs Group Inc. (NYSE: GS); Morgan Stanley (NYSE: MS); Jefferies Group, Inc. (NYSE: JEF); KLA-Tencor Corporation (NASDAQ: KLAC); Life Technologies Corporation (NASDAQ: LIFE); McDonald’s Corporation (NYSE: MCD); Michael Kors Holdings Limited (NYSE: KORS); Netflix, Inc. (NASDAQ: NFLX); Vistaprint NV (NASDAQ: VPRT); and Zynga Inc. (NASDAQ: ZNGA).

We have covered these in more detailed summaries below and some of these will have links to broader coverage calls.  

AT&T Inc. (NYSE: T) has been a bit under pressure and frankly its earnings did not help the situation for the bulls despite some positive metrics.  Now there is a bit more caution as the stock was reinstated in coverage on Friday at Credit Suisse: with a NEUTRAL and a mere $30.00 price target. This was one of Jim Cramer’s 4 FAVORITE DJIA PICKS FOR 2012 and it is the highest yield of the DJIA. 

Automatic Data Processing, Inc. (NYSE: ADP) met its second quarter earnings estimates this last week but apparently there are some valuation concerns despite the CFO seeing some continued positive trends in the economy.  On Thursday there were two downgrades: Cut to NEUTRAL at Citigroup and Cut to MARKET PERFORM at Wells Fargo.  Shares were around $57.oo pre-earnings and ended the week down at $55.34 and that may be another failed break-out attempt on the chart as the year high is $57.10.

Best Buy Co., Inc. (NYSE: BBY) is supposed to be down and out with absolutely nothing going for it.  In fact, its real risk is that no one under 30 or so may ever go there again.  Not so fast, according to Credit Suisse as the firm reinstated coverage with an OUTPERFORM rating and with a call of almost 30% upside to its $32.00 price target (versus $28.21 target from Thomson Reuters. This drove shares up 1.7% on Friday when the broad market was down.

Chesapeake Energy Corporation (NYSE: CHK) is the pure-play when it comes to investing in natural gas.  It is no secret that nat-gas is in the tank.  Apparently J.P.Morgan just couldn’t take the pressure any longer.  The analyst team there cut Chesapeake to UNDERWEIGHT on Thursday… That is just a “Sell” masqueraded by vocabulary.

Dendreon Corporation (NASDAQ: DNDN) was given two calls of caution or at least calls with no enthusiasm despite its shares having more than doubled from the lows.  Zacks maintained a NEUTRAL rating with a $14.00 target, while the team at Cantor Fitzgerald started it with only a HOLD rating.  Both calls came on Wednesday and Wednesday’s was Dendreon’s highest price of the week.

E*TRADE Financial Corporation (NASDAQ: ETFC) is still supposed to be a buyout target according to the great analyst predictions of 2012, even though the company’s review ended with nothing.  Earnings stank up the joint and the promise (or forecast) of exceptionally low rates through 2014 offers no comfort for earnings at online brokers.  The stock was cut to NEUTRAL at Goldman Sachs this week.  Keep in mind that Goldman Sachs was the firm hired to go find a buyer for E*TRADE.  Not promising at all.

We covered the short interest changes for the January 13 settlement date and compared them to the December 30 short interest data and added in other color if applicable.

Alcatel Lucent S.A. (NYSE: ALU) rose to 22.54 million shares from over 18.2 million for a gain of almost 24%.

Bank of America (NYSE: BAC) rose 18.5% to 186.1 million from over 157 million at the end of December.

Dendreon Corporation (NASDAQ: DNDN) saw nearly a 6% gain to 34.76 million shares in the short interest to its highest level in a year.

Diamond Foods, Inc. (NASDAQ: DMND) saw a gain of 12% to 10.46 million shares during its time of accounting woes, but this is still not as large as in OCT/NOV-2011.

First Solar, Inc. (NASDAQ: FSLR) was down only marginally.  The solar leader (and whipping boy) was down again to 18.04 million shares from a reading of 18.7 million at the end of 2011. Be advised that this was FIVE STRAIGHT lower readings in the short interest.

Ford Motor Co. (NYSE: F) was up by 14.7% to 147.1 million.

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) remains a battleground stock and the uptick was less than 1% to 26.489 million shares in the short interest.  That is still down about 10% from last year’s peak.

Human Genome Sciences, Inc. (NASDAQ: HGSI) posted another rise in the short interest to a new year record of over 32.2 million shares in the short interest.  So much for loving the lupus drug.

LinkedIn Corporation (NYSE: LNKD) continues to see rising bets against its stock.  The reading was 6.9 million shares short and that marks EIGHT STRAIGHT gains in the bets against the stock.

Netflix, Inc. (NASDAQ: NFLX) may feel after-the-fact now that earnings are out, but the short interest rose by a sharp 25% to 11.422 million shares.  That is the highest short interest reading since last March.  Today’s gains have to be some short covering.

Research in Motion Limited (NASDAQ: RIMM) has had the vultures circling it for some time but this last short interest reading of 36.6 million was down more than 3% and was actually the lowest short interest reading since the end of last July.  Maybe all the short-sale money has been made since the stock fell about 75%.

Sirius XM Radio Inc. (NASDAQ: SIRI) always has a high short interest due to its low price and controversial stock… What is interesting is that the gain was not even 2% in short shares to 305 million BUT… That is the highest short interest since the end of last May.

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JON C. OGG

DaVita, Inc. (NYSE: DVA) Raised to Outperform as Bull of the Day at Zacks.
Dendreon Corporation (NASDAQ: DNDN) maintained Neutral with $14.00 target at Zacks; Started as Hold at Cantor Fitzgerald.
Energy Partners Limited (NYSE: EPL) named as value stock of the day at Zacks.
Goldman Sachs Group Inc. (NYSE: GS) Cut to Neutral at JPMorgan.
hhgregg, Inc. (NYSE: HGG) maintained Underperform as Bear of the Day at Zacks.
KeyCorp (NYSE: KEY) Cut to Underperform at Keefe Bruyette & Woods.
McDonald’s Corporation (NYSE: MCD) Cut to Perform from Outperform at Oppenheimer (valuation call).
Morgan Stanley (NYSE: MS) Cut to Neutral at JPMorgan.
Oracle Corporation (NASDAQ: ORCL) Cut to Neutral at Macquarie.
Regions Financial (NYSE: RF) Raised to Outperform at RBC Capital; Cut to Neutral at Bank of America Merrill Lynch.
Starbucks Corporation (NASDAQ: SBUX) Raised to Outperform at Oppenheimer.
Zynga, Inc. (NASDAQ: ZNGA) Started as Overweight at Barclays; Started as Overweight at JPMorgan; Started as Neutral at Bank of America Merrill Lynch; Started as Buy at Goldman Sachs.

If you enjoyed the top analyst calls, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We include major analyst upgrades and downgrades, IPO and M&A news, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

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JON C. OGG

• The 17 Most Important IPOs to Watch in 2012.
• The 24/7 Wall St. 2012 Model Dividend portfolio
• Bankruptcy, liquidation, delisting and all… Here is a list of ten stocks that are not expected to survive 2012.
• Major semiconductors and expected price performance of leaders in 2012.
• Top Oil & Gas stocks with expected price performance in 2012.

One firm gave what looks and feels like an outrageous possibility: a 50% drop from the peak in Apple Inc. (NASDAQ: AAPL) shares.

Jim Cramer’s top four of the thirty DJIA picks are AT&T Inc. (NYSE: T), Boeing Co. (NYSE: BA), General Electric Co. (NYSE: GE) and Kraft Foods Inc. (NYSE: KFT). FULL SUMMARY

A Doug Kass call was made for E*TRADE Financial Corporation (NASDAQ: ETFC) to be acquired, even though it all but killed any M&A prospects.

Barron’s gave ten stocks it sees as its favorite picks in 2012, and the trend here is based upon value stocks and dividend stocks rather than aggressive growth stocks.

Molycorp. Inc. (NYSE: MCP) received a wishy-washy outlook concerns from top analyst for this year.

3 Groups of small and mid-cap stock picks expecting huge upside in 2012:

Small & Mid-Cap Stocks With 50% Upside In 2012 (OIS, OI, ROSE, WBC, CIE)
Small Caps With 50% Upside in 2012 (TEN, WNR, APO, SNV, MTZ)
Small Caps With Over 50% Stock Upside in 2012 (PNK, CDXS, VVUS, SCMR)

A consensus breakdown of top analyst stock picks for biotech in 2012. Dendreon Corporation (NASDAQ: DNDN) was noted with having more than 40% upside at the time, but that was literally seen in one day this last week.  Three top medical technology picks in 2012 from Zacks Investment Research were Boston Scientific Corporation (NYSE: BSX), Intuitive Surgical, Inc. (NASDAQ: ISRG). and St. Jude Medical, Inc. (NYSE: STJ).

Eight nations with active ETFs, closed-end funds, and ADRs which may benefit from credit rating upgrades in 2012.

JON C. OGG

AGCO Corporation (NYSE: AGCO) Maintained Outperform as Bull of the Day at Zacks.
Apollo Group Inc. (NASDAQ: APOL) Reiterated Outperform and Raised Target to $60 at Credit Suisse.
Boston Scientific Corporation (NYSE: BSX) Maintained Hold but lowered estimates at Argus.
Career Education Corporation (NASDAQ: CECO) Cut to Hold at Argus.
Dendreon Corporation (NASDAQ: DNDN) Reiterated Neutral with $10 target at Baird.
FedEx Corporation (NYSE: FDX) Started as Outperform at Wells Fargo.
Goldman Sachs Group Inc. (NYSE: GS) Cut to Market Perform by Wells Fargo.
Huntsman Corporation (NYSE: HUN) named as Value Stock of the Day at Zacks.
Illinois Tool Works. Inc. (NYSE: ITW) Cut to Neutral at Credit Suisse.
Intel Corporation (NASDAQ: INTC) Cut to Neutral at Stern Agee.
Kohl’s Corporation (NYSE: KSS) Cut to Hold at Argus.
SanDisk Corporation (NASDAQ: SNDK) Raised to Buy at Stern Agee.
TD AMERITRADE Holding Corporation (NASDAQ: AMTD) Raised to Buy at Deutsche Bank.
The Travelers Companies, Inc. (NYSE: TRV) Raised to Outperform at Wells Fargo.
United Parcel Service, Inc. (NYSE: UPS) Started as Market Perform at Wells Fargo.
Urban Outfitters Inc. (NASDAQ: URBN) Started as Underperform and named as Bear of the Day at Zacks.
Vodafone Group PLC (NYSE: VOD) Raised to Buy at Goldman Sachs.
Zhongpin, Inc. (NASDAQ: HOGS) Started as outperform at Oppenheimer.

If you enjoyed this morning’s Wall Street research notes, you can sign up to receive these directly in your inbox each morning by joining our free email list in the box below.  We also include major movers, key stock calls, news on Warren Buffett and other gurus, as well as special exclusive feature stories.

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JON C. OGG

The Seattle-based biotech announced sequential revenue growth for the fourth quarter ended December 31 of approximately 25% to $82 million, above the consensus estimate of $72 million. For full-year 2011, Dendreon said sales of Provenge (sipuleucel-T) would total approximately $228 million. Gold credited an improved Provenge reimbursement landscape and ongoing physician education initiatives for the stronger results.

Investors were initially bullish on the growth prospects  of the vaccine, which was approved in April 2010 for the treatment of advanced (hormone-refractory) prostate cancer. And with good reason: The first therapy in the U.S. designed to induce the body’s own immune system to attack prostatic tumor cells, Provenge’s side-effects are less toxic than traditional chemo-based treatments for advanced prostate cancer, such as Sanofi’s (NYSE: SNY) taxotere (docetaxel). And, unlike the plethora of drugs in the treatment paradigm for metastatic, castrate-resistant (hormone-refractory) prostate cancer, such as AstraZeneca’s (NYSE: AZN) Zoladex or Abbott’s (NYSE: ABT) wildly popular Lupron injection, Provenge does not focus on reducing testosterone levels, the male hormone fueling growth of tumor cells.

From a high of $42 a share in April 2011, the stock price tumbled more than 80% last fall after the company withdrew prior guidance of $400 million in annual sales, the result of prolonged delays in federal and private insurance reimbursements.

“It’s not what we don’t know that hurts us, it’s what we know for certain that just ain’t so.” ~ American author and humorist Mark Twain

Analysts attribute the dramatic spike in Dendreon’s stock price to the positive shift in insurance coverage — including a reduction in average time to payment of less than 30 days for providers. “We believe that this progress may help clear some of the fog surrounding the Provenge sales trajectory,” said Joseph Pantginis, Roth Capital Partners.

An oft-repeated tragicomedy that befalls investors is how the unabashed certitudes of Wall St. dissemblers result in trading losses for those of us who pile into stocks after the “good” news is out. Not to pick on Pantginis exclusively, but improving trends in reimbursement for Provenge is old news: In a 10Q Detective column posted last November, I noted that CEO Gold had previously mentioned that average (insurance) reimbursement times had fallen from “90 days down to 30 days.”

Though I do not doubt prescription uptake of Provenge by urologists and oncologists is trending higher (read my bullish article, posted on November 17, 2011: Dendreon Buyout, How Imminent?), more likely, the breathtaking climb in Dendreon’s share price was unintentionally engineered by short-sellers closing out open positions. According to NASDAQ, short interest in Dendreon common stock was 31.3 million (as of December 15), about 21% of the stock’s float.

Further exacerbating a combustible trading environment, days to cover had jumped to seven, from 3.9 the month prior.

Need more convincing evidence that Dendreon’s stock price overreacted to acknowledged “modest” growth expectations? On Thursday, January 5, approximately 44.9 million shares changed hands, a 700% increase over its 65-day average volume.

Looking to go long Dendreon stock? Free advice — stand clear, at least for now.

David Phillips

Related Posts:

Dendreon – Not Running Out of Cash

Dendreon Buyout, How Imminent?

The International Monetary Fund’s Lagarde says 2012 will not see the end of the euro. (Reuters)

MF Global’s trustee will not hand over some documents about the collapsed firm to regulators. (Reuters)

Samsung’s profits in Q4 are driven up by handset sales. (Reuters)

General Motors (NYSE: GM) to reinforce Volt battery casings. (Reuters)

Toyota (NYSE: TM) to target 10% growth in China this year. (Reuters)

George Soros says a breakup of the euro would be a disaster. (Reuters)

LG says it set a partnership with Google (NASDAQ: GOOG) to launch Google TV. (Reuters)

Use of Siri causes the new iPhone to double its data consumption. (Reuters)

Yahoo! (NASDAQ: YHOO) will decide whether to engineer a spin-out that may save it $4 billion in taxes. (WSJ)

The U.S. office market slightly improves in Q4. (WSJ)

BMW is the top luxury car company in America, based on 2011 sales. (WSJ)

The military will downsize considerably under a new Obama plan. (WSJ)

California Governor Jerry Brown hopes to close a $9.2 billion budget gap with cuts to social services. (WSJ)

A recession in Europe raises more worries that its finances will become a larger problem. (WSJ)

Alcoa (NYSE: AA) will close some aluminum-smelting capacity because of slow demand. (WSJ)

Boeing (NYSE: BA) lags Airbus in 2011 sales. (WSJ)

Shares soar after Dendreon (NASDAQ: DNDN) says its made advances in development of its Provenge prostate-cancer. (WSJ)

China will curtail plans that help foreign car makers in order to help locals. (WSJ)

PC firm Lenovo will reset how it is organized geographically. (WSJ)

The IMF may set stress tests for Japan’s banks (WSJ)

Financial firms will sell $12 billion in bonds this week. (WSJ)

The top 1% of mobile users consumer half of all bandwidth. (NYT)

Holders of U.S. mortgage bonds may report large losses as banks settle mortgage paper charges with the government. (FT)

HTC sees its first profit drop in two years. (Bloomberg)

Audi plans to increase sales substantially in the U.S. (Bloomberg)

Douglas A. McIntyre

The unofficial closing bells put the DJIA down nearly 3 points to 12,415.70 (-0.02%), the NASDAQ rose more than 21 points (0.81%) to 2,669.86, and the S&P 500 rose 0.29% or nearly 4 points to 1,281.05.

There were several analyst upgrades and downgrades today, including Broadcom Corp. (NASDAQ: BRCM) maintained ‘buy’ with a $46 target price at Argus; Netflix Inc. (NASDAQ: NFLX) maintained ‘underperform’ and estimates cut at Needham; Nokia Corp. (NYSE: NOK) raised to ‘outperform’ at Credit Suisse; Google Inc. (NASDAQ: GOOG) cut to ‘hold’ at Benchmark; and VMWare Inc. (NYSE: VMW) started as ‘buy’ at Sterne Agee.

Earnings reports of note since markets closed yesterday include: Constellation Brands Inc. (NYSE: STZ) is down about -3.5% at $19.72; Monsanto Co. (NYSE: MON) is up more than 5.5% at $76.70; Worthington Industries Inc. (NYSE: WOR) is down -0.6% at $17.55; and Helen of Troy Ltd. (NASDAQ: HELE) is up more than 4% at $32.73.

Other standouts from today include the following stocks:

Dendreon Corp. (NASDAQ: DNDN) is up nearly 40% at $10.61. The biotech company reported a sales jump of 25% for its prostate cancer drug. The company is one of our top biotech picks for 2012.

Ancestry.com, Inc. (NASDAQ: ACOM) is up more than 21% at $27.69. The internet genealogy provider reported a 22% rise in subscribers and forecast sales growth for 2012 of more than 14%.

Zumiez Inc. (NASDAQ: ZUMZ) is up nearly 17% at $30.74 after posting a new 52-week high earlier of $30.94. The sports apparel company reported a 10% same-store sales gain and raised guidance this morning. See our coverage here.

Orchard Supply Hardware Stores (NYSE: OSH) is down nearly -25% at $16.70. The home improvement store held its IPO on Monday and today provided a weak outlook for 2012.

Barnes & Noble Inc. (NYSE: BKS) is down more than -17% at $11.25. The bookstore chain said today that it is considering spinning off its Nook e-reader unit as a strategic option. Our coverage is available here.

American Eagle Outfitters Inc. (NYSE: AEO) is down more than -10% at $13.61. The clothing retailer slashed its fourth-quarter profit guidance by nearly a quarter.

Stay tuned for Friday. Federal Reserve Governors Elizabeth Duke and Sarah Bloom Raskin are speaking, as are Boston Fed President Eric Rosengren and New York Fed President William Dudley. Here are the noteworthy events on the schedule (all times Eastern):

• 8:30 a.m. – Employment reports, including non-farm payrolls
• 3:00 p.m. – US Treasury STRIPS

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Paul Ausick

Our screen process did not limit the scope to positive earnings, but we did use a minimum market valuation of $1 billion to avoid the smaller and even more speculative names in an already speculative sector.  The companies are all expected to rise 20% more and include the following stocks tied to biotech and the biohealth sectors: ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA); Dendreon Corporation (NASDAQ: DNDN); Gilead Sciences, Inc. (NASDAQ: GILD); Human Genome Sciences, Inc. (NASDAQ: HGSI); Illumina, Inc. (NASDAQ: ILMN); Incyte Corporation (NASDAQ: INCY); Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ); Life Technologies Corporation (NASDAQ: LIFE); and Theravance, Inc. (NASDAQ: THRX).

Unfortunately, some of these are biotech implosions where companies have run into problems. Others are pre-revenue and could be tomorrow’s drug giants in cancer and other indicated treatments.  Some may even be acquired.  We have included the current share price and recent price history, as well as based the implied upside upon the consensus price target objective from Thomson Reuters.  Recent fundamental data and color has been added on each if applicable.

There are also the ETF products via the iShares Nasdaq Biotechnology (NASDAQ: IBB) and the SPDR S&P Biotech (NYSE: XBI).  The iShares variation trades at $104.30 and its 52-week range is $83.96 to $110.02.  Gilead (and Pharmasset) would be the largest implied holding of the iShares ETF with almost 16% weighting combined.  The SPDR variation trades at $66.48 and its 52-week range is $47.01 to $75.17. The SPDR also only contains ARIAD (and Pharmasset) of the biotechs with the most implied upside below. 

ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) currently trades around $12.50, has a market cap of about $1.65 billion, and the Thomson Reuters consensus price target of $15.91 leaves an implied upside of about 27%.  Its 52-week trading range is $5.04 to $13.50 and 2011 has been a year where the company’s share price has come close to challenging the prior highs from 1999 to 2000. It is still pre-revenue for the most part and losses are expected to continue at least through 2012.  ARIAD is focused around oncology and its shares are up from a $10.42 per share offering of almost 25 million shares that raised nearly $250 million for the company.  This was one of the good secondary offerings that allows the company to raise development and commercialization funds without becoming dependent solely upon a single partner.

Dendreon Corporation (NASDAQ: DNDN) is another implosion story due to lower adoption rates of PROVENGE for prostate cancer, although some are hoping and expecting that the new reimbursement rates (and physician clarity) may help the company regain some of its lost footing.  At $7.58, the market cap is barely $1.1 billion and the $11.05 Thomson Reuters price target leaves an implied upside of over 45%.  To show just how bad this one has gone, the 52-week trading range is $6.46 to $43.96.

Also Read: Small Caps With 50% Upside in 2012

Gilead Sciences, Inc. (NASDAQ: GILD) recently traded at $39.88 and it is one of the biotech giants with a market cap of about $30 billion. THe 52-week trading range is $34.45 to $43.49 and the Thomson Reuters consensus price target of $48.86 leaves an implied upside of 22.5%. The last time Gilead was above $50.00 was in early 2009.  Gilead is somewhat surprising to see on the list considering its controversial $11 billion acquisition of Pharmasset when that target acquisition is not expected to generate sales for at least another year.  The company has new HIV medication that is helping to boost the value but the company is diversifying to include more target markets.