Shares in Cell Therapeutics Inc(NASDAQ:CTIC) rose by more than a fourth after the U.S. Food and Drug Administration granted orphan status to its brain cancer drug.
Orphan status, is granted by the U.S. FDA to drugs that treat diseases affecting fewer than 200,000 people. It also provides seven years' marketing exclusivity from the date of approval to Cell Therapeutics.
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The designation was granted based on preliminary data from the mid-stage study of the drug, Opaxio, for treating glioblastoma multiforme (GBM), the company said.
Sirius XM Radio Inc(NASDAQ:SIRI) has put out a very upbeat research call on Sirius XM, which is shortly about to be controlled by Liberty Media.
According to Bank of America Merrill Lynch the stock's got some 46 percent upsides to it from here to $3.75.
That positive outlook has also resulted in a But rating from the bank which is initiating overage.
The shares in the company have soared since the time it was near bankruptcy and Liberty Media saved it from oblivion by infusing about $350 million worth of funds in exchange for a 40 percent stake.
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If you'd bought it at a dime a share then, you're up 26 times on your money.
The BofA Merrill target is well above the current high analyst call. At the moment, the top price target is $3.35, and the average of all those following the stock is $2.75, a full dollar below what BofA sees coming.
Sales have risen from $600-plus million in 2006 to past $3 billion, it's gone from losses to profits on the bottom line in that time and EBITDA has turned positive since the days it was talked down regularly by the pessimists.
Shares of SIRI are up 3% to $2.64 and made multi-month high of $2.68.