JMP Securities (NYSE:JMP) downgraded its rating on Savient Pharma (SVNT) from market perform to market underperform and changed its price target to $1.50. The analyst issuing the downgrade believes that sales of its blockbuster drug Krystexxa will fall after competing drugs reach the market in a few years.
Shares are lower by about 6.4 percent.
Cisco Systems ( CSCO) was upgraded by Deutsche Bank (NYSE:DB) from a hold to buy with a $22.00 price target on the stock. Earnings, revenue and profit margins all beat forecasts.
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