JMP keeps Gilead at market perform

Gilead Sciences, Inc. was reiterated by JMP Securities analyst Adam Cutler at market perform on news that the company acquired Myogen at a 50% share-price premium for $2.5 billion in a two-step all cash deal. According to the analyst, the Myogen pipeline will be a big part of Gilead's new pulmonology initiative. However, JMP's model continues to show decelerating earnings per share growth in the near term. Shares of the Foster City, Calif.-based biopharmaceutical company were down $2.25, or 3.50%, at $62.03. (Nasdaq: GILD)

Abbott a top pick for RBC

RBC Capital Markets analyst Phil Nalbone gave Abbott Laboratories a top pick rating, with average risk and a $55 price target, after the company said it is dropping the ZoMaxx drug-eluting stent to focus on the Xience stent it acquired from Guidant. Late-stage data show the Xience product to be superior to ZoMaxx, plus physician preference surveys show a clear leaning toward Xience for ease-of-use and perceived clinical outcomes. Additional ZoMaxx data is expected the week of Oct. 23. Shares of the Abbott Park, Ill.-based biopharmaceutical company were down 63 cents, or 1.31%, at $47.61. (NYSE: ABT)

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