CHICAGO, March 31, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Pfizer Inc. (NYSE:PFE-Free Report), Amgen (Nasdaq:AMGN-Free Report), Sanofi (NYSE:SNY-Free Report), Alkermes (Nasdaq:ALKS-Free Report) and JPMorgan Chase & Co. (NYSE:JPM-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Friday's Analyst Blog:
Encouraging Data on Pfizer Cholesterol Drug
Pfizer Inc. (NYSE:PFE-Free Report) announced encouraging results from a phase IIb study (n=354) on bococizumab (RN316) being developed for the treatment of adults suffering from high cholesterol and also taking statin therapy. The study randomized patients with either bococizumab (twice or once monthly subcutaneous administration) or placebo.
Results revealed that bococizumab showed significant reduction in low density lipoprotein cholesterol (LDL-C) from baseline in comparison to placebo in statin treated adults with high cholesterol. The highest reductions in LDL-C were observed in 150 mg for the twice monthly regimen and 300 mg for the once monthly regimen of bococizumab.
We are encouraged by the positive results from the phase IIb study on bococizumab. The candidate is currently in a phase III program, initiated in Oct 2013. Pfizer's phase III program on bococizumab includes two cardiovascular outcome studies and multiple lipid-lowering studies. Pfizer enrolled over 22,000 patients for the studies.
We believe successful development and subsequent commercialization of bococizumab will strengthen Pfizer's cardiovascular portfolio. Meanwhile, companies like Amgen (Nasdaq:AMGN-Free Report) and Sanofi (NYSE:SNY-Free Report) are developing candidates for treating patients with high cholesterol.
Of late Pfizer has reported several encouraging results from its late stage candidates. Pfizer will be hit by a series of patent expiries including Aricept, Revatio and Viagra until 2015. Successful developments of these late stage candidates are hence important for the company to offset the loss.
Pfizer carries a Zacks Rank #3 (Hold). Investors looking for better-ranked stocks in the medical sector may consider companies like Alkermes (Nasdaq:ALKS-Free Report), which carries a Zacks Rank #1 (Strong Buy).
JPM Wins Silver Price-Fixing Case
JPMorgan Chase & Co. (NYSE:JPM-Free Report) can now breathe a sigh of relief as a 2nd U.S. Circuit Court of Appeals has dismissed a lawsuit against the bank, pertaining to silver price fixing. The news was confirmed by Reuters on Thursday.
Earlier, in March 2013, the aforementioned case was turned down by Manhattan U.S. District Judge Robert Patterson. However, investors had appealed against the judgment.
It was alleged that in an attempt to maximize its profit, JPMorgan had manipulated the price of silver from 2007 to 2010. This resulted in huge losses for investors who traded in COMEX silver futures and options contracts during the said period.
Investors accused JPMorgan of rigging the silver price downwards to derive benefit from the huge short position that it maintained in the market. The company was also imputed of engaging in "late day trading", which though not illegal, is an unethical form of trading.
While dismissing the case, the Circuit Court of Appeals stated that the investors lacked substantial evidence to prove their point. Further, the mere presence of considerable short positions does not make JPMorgan guilty of wrongdoing.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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