Rodman starts Alnylam at market outperform

Rodman & Renshaw has initiated coverage of one-time market darling Alnylam Pharmaceuticals (NASDAQ:ALNY) with a “market outperform, speculative risk” rating and 12-month price target of $12. The stock closed at $7.13 yesterday. “It is our view that the shares have been overly punished by investors and the pendulum of sentiment has swung so far that [...]

In conversation with Michael King and Elemer Piros

Rodman & Renshaw’s 13th Annual Healthcare Conference last week was another roaring success. Held in conjunction with Rodman’s Annual Global Investment Conference, total attendees reached some 4,000, with 400 presenting companies from the healthcare, mining, energy, financial services and clean technology sectors, Israel and China. In this exclusive interview with BioTuesdays.com, two of Rodman’s managing [...]

Rodman sees potential approval of ColonSentry in fourth quarter

In a meeting last week at the Rodman & Renshaw conference with Enzo Biochem (NYSE:ENZ), analyst Yigal Nochomovitz came away with an impression that feedback from New York State regulators “has been favorable” for Enzo’s bid to obtain approval for the GeneNews (TSX:GEN) ColonSentry molecular diagnostic test for assessing a patient’s current risk of having [...]

Rodman starts Biolase at market outperform

Rodman & Renshaw has initiated coverage of Biolase Technology (NASDAQ:BLTI) with a “market outperform” rating and 12-month price target of $6, representing about 2.5 times estimated sales of $73 million in 2012. The stock closed at $3.53 on Thursday. Biolase is the leader in the dental laser surgery space, with an 80% market share in [...]

Fibrocell to raise $22.7 million in private placement

Fibrocell Science (OTCBB:FCSC) has entered into a definitive securities purchase agreement with certain accredited investors to sell 41,245,822 common shares at a price of 55 cents apiece in a private placement. Each purchaser will also receive a warrant to purchase 0.35 shares for every common share acquired in the offering with an exercise price of [...]

In conversation with David Strupp

As a managing director in the Healthcare Investment Banking Group at Rodman & Renshaw, David Strupp has an enviable track record across the sector. With over 18 years of healthcare investment banking experience, Mr. Strupp has completed over 80 transactions for a total value of over $25 billion, assisting clients execute transactions across a range of [...]

Ventrus Biosciences prices registered offering

Ventrus Biosciences (NASDAQ:VTUS) has priced its underwritten registered offering of 4.5 million common shares at $10 a share. The stock finished at $11.91 on Wednesday. Ventrus also has granted the underwriters a 30-day option to purchase up to an additional 675,000 shares to cover over-allotments, if any. Leerink Swann and Lazard Capital Markets are acting [...]

Rodman starts Novadaq at outperform

Rodman & Renshaw has initiated coverage of Novadaq Technologies (TSX:NDQ) with a “market outperform” rating and 12-month price target of $6, saying the company’s SPY intra-operative fluorescent imaging technology represents a platform technology that could help in improving outcomes and / or reducing global costs using perfusion imaging. “Our valuation methodology employs a traditional discounted cash [...]

Rodman starts Kips Bay at outperform

Rodman & Renshaw has initiated coverage of Kips Bay Medical (NASDAQ:KIPS) with an “outperform” rating and 18-month price target of $12. The stock closed at $6.47 on Monday. “Kips Bay is the only company we know of that is exploring use of an external nitinol stent in improving patency of saphenous vein grafts in coronary artery [...]

Personalized medicine is more than targeted therapeutics

That’s a message Enzo Biochem (NYSE:ENZ) wants to get out. “We are positioned extremely well for personalized medicine in the sense that as new immunoassays are recommended by the various professional societies, we are able to move them into the market very quickly because of our broad range of technology and licensure,” David Goldberg, VP [...]

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