NEW YORK (TheStreet) -- RATINGS CHANGES
Aerie Pharmaceuticals (AERI) was upgraded to buy from hold by Canaccord Genuity, which set a 12-month price target of $40. After much anticipation, Aerie's interactions with the Food and Drug Administration have led to the following: 1) allow ROCKET 2's primary endpoint to include patients with a baseline IOP of 25 mmHg or below; and 2) agreement that the company may use a hierarchically-based statistical approach such that the three arms of the trial remain adequately powered (>85%) and no further enrollment is needed. ROCKET 2 is still expected to have results in Q3/15, Canaccord said.
Amedisys (AMED) was upgraded to buy from hold by Jefferies, which set a 12-month price target of $48, saying that the company's new management team brings renewed energy and direction that will reaccelerate organic and M&A-driven growth and drive margin expansion.
BioMarin (BMRN) was downgraded to neutral from outperform by Robert Baird, which cited valuation, based on a 12-month price target of $133.
BP (BP) was downgraded to sector perform from outperform by RBC Capital, which said the downgrade is a valuation call, as the stock has outperformed its peers year-to-date.
Fiserv (FISV) was upgraded to outperform from perform by Oppenheimer, which set a 12-month price target of $95, saying the company can continue to expand margins and return cash to shareholders.