Cadence Pharmaceuticals Inc. (CADX)

[surf1944]

BOSTON (MarketWatch) -- Shares of Cadence Pharmaceuticals (US:cadx) slid 10% to $3.97 on Thursday after Leerink Swann lowered its rating of the stock from buy to hold, and market valuation from $5 to $4.50. "After a recent rally where Cadence shares have risen 60% in over the last three months, the stock now looks fairly valued with less upside than other names within our emerging biopharma coverage," wrote Leerink analyst Michael Schmidt, in his note. He added he lowered his far-market valuation to reflect the impact of patent litigation related to the company's drug Ofirmev.


http://articles.marketwatch.com/2012-08-30/industries/33492421_1_analyst-downgrade-biopharma-market-valuation