Ctrip (CTRP) (SZEVY) (TEF) (VRUS) (ABMD) (CALX) Downgraded

Ctrip.com International, Ltd. (NASDAQ: CTRP), SUEZ ENVIRONNEMENT (OTC: SZEVY), Telefonica SA (NYSE: TEF), Pharmasset (NASDAQ: VRUS), Abiomed (NASDAQ: ABMD) and Calix Networks (NASDAQ: CALX) were downgraded by analysts.

SUEZ ENVIRONNEMENT (SZEVY) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.

Telefonica SA (TEF) was downgraded by HSBC (NYSE:HBC) from an “Overweight” rating to a “Neutral” rating.

Pharmasset (VRUS) was downgraded by William Blair to a “Market Perform” rating.

Abiomed (ABMD) was downgraded by Rodman & Renshaw from a “Market Perform” rating to an “Underperform” rating. They have a price target of $13.00 on the company.

Calix Networks (CALX) was downgraded by Morgan Stanley (NYSE:MS) from an “Equal Weight” rating to an “Underweight” rating.

Ctrip.com International, Ltd. (CTRP) was downgraded by Mizuho from a “Buy” rating to a “Neutral” rating.

Pharmasset (VRUS) Downgraded by Analysts

Pharmasset (NASDAQ: VRUS) was downgraded by numerous analysts.

Pharmasset (VRUS) was downgraded by Noble Financial to a “Sell” rating.

Pharmasset was downgraded by William Blair to a “Market Perform” rating.

Pharmasset was downgraded by Brean Murray from a “Buy” rating to a “Hold” rating.

Pharmasset was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.

Pharmasset was downgraded by JPMorgan Chase & Co. (NYSE:JPMN) from an “Overweight” rating to a “Neutral” rating. They have a price target of $137.00 on the company.

Pharmasset was downgraded by Canaccord Genuity from a “Buy” rating to a “Hold” rating.

Pharmasset was downgraded by Leerink from an “Outperform” rating to a “Market Perform” rating.

Pharmasset was downgraded by UBS AG (NYSE:UBS) from a “Buy” rating to a “Neutral” rating.

Pharmasset (VRUS) Ratings, Price Targets

Pharmasset (VRUS) ratings and price targets.

Leerink downgraded Pharmasset from an “Outperform” rating to a “Market Perform” rating.

Canaccord Genuity downgraded Pharmasset from a “Buy” rating to a “Hold” rating.

JPMorgan Chase & Co. (NYSE:JPM) downgraded Pharmasset from an “Overweight” rating to a “Neutral” rating. They have a price target of $137.00 on the company.

Wells Fargo & Co. (NYSE:WFC) downgraded Pharmasset from an “Outperform” rating to a “Market Perform” rating.

Global Education (GEDU) (VRUS) (INHX) (BSDM) (REGN) (LONG) Top NASDAQ Gainers

Global Education (GEDU), Pharmasset (VRUS), Inhibitex (INHX), BSD Medical Corp. (BSDM), Regeneron Pharma (REGN) and eLong, Inc. (LONG) were the top gainers on the NASDAQ Monday, November 21.

Global Education (GEDU) ended Monday up 97.39 percent, closing at $10.60. They traded in a range of $10.43 to $10.70. A total of 4,171,490 shares changed hands.

Pharmasset (VRUS) ended Monday up 84.59 percent, closing at $134.14. They traded in a range of $134.03 to $135.00. A total of 23,678,441 shares changed hands.

Inhibitex (INHX) ended Monday up 18.81 percent, closing at $10.61. They traded in a range of $10.21 to $11.98. A total of 10,190,821 shares changed hands.

BSD Medical Corp. (BSDM) ended Monday up 16.79 percent, closing at $3.06. They traded in a range of $2.82 to $3.22. A total of 835,994 shares changed hands.

Regeneron Pharma (REGN) ended Monday up 10.42 percent, closing at $55.00. They traded in a range of $51.09 to $57.00. A total of 4,216,824 shares changed hands.

eLong, Inc. (LONG) ended Monday up 10.31 percent, closing at $15.41. They traded in a range of $15.09 to $17.36. A total of 80,793 shares changed hands.

Big Movers (WLT) (MHK) (BLK) (BAP) (VRUS) on May 6

Among the big, positive movers on Friday, May 6, were Walter Energy (WLT), Mohawk Industries (MHK), Blackrock (BLK), Credicorp Ltd (BAP) and Pharmasset (VRUS).

Walter Energy (WLT) jumped $4.50, to close at $131.08, a gain of 3.56 percent.

Mohawk Industries (MHK) was up $4.31 on the day, to close at $67.48, a gain of 6.82 percent.

Blackrock (BLK) climbed $4.27 to close at $195.74, a gain of 2.23 percent.

Credicorp Ltd (BAP) rose $4.22 to close the session at $102.54, a gain of 4.29 percent.

Pharmasset (VRUS) was up $4.03 to end the day at $104.94, a gain of 3.99 percent.

Pharmasset (NASDAQ:VRUS) Gets Positive Update on '7977 and '938

Citing another positive update on Pharmasset's (NASDAQ:VRUS) '7977 and '938, Baird sees the Phase 2 data release as a value-creation period.

Baird said, "Reiterate rating on another positive update for '7977 and '938 and robust catalyst flow. This latest in a series of positive/confirmatory updates reinforces our thesis that the ongoing Phase 2 data rollout should be a key value-creation period, and one where data already in-hand provides a relatively-higher degree of confidence. VRUS remains a top idea for smid-cap growth, with significant upside to our $54 target on continued success and robust 2011 catalyst flow."

Baird reiterates an "Outperform" rating on Pharmasset, which closed Thursday at $46.24, down $0.35, or 0.75 percent, Baird has a price target of $54 on them.

Vertex (NASDAQ:VRTX) Has Setback in Telaprevir Therapy

When Vertex (NASDAQ:VRTX) gave an update on their work on trying to shorten telaprevir therapy to 12 weeks, it appears they've met a setback, and at this time is fully valued, said Canaccord.

Canaccord noted, "We think the company’s update yesterday poses a setback to attempts to further shorten telaprevir therapy to 12 weeks (from 24 weeks in some patients) in an all-oral approach. We think there are other competitors such as Pharmasset (Nasdaq:VRUS)(BUY) that might offer stiff competition in a successful all-oral therapy. We expect approval of telaprevir + peg/riba in 2011 and view the stock as fully valued at current levels."

Canaccord Genuity maintains a "Hold" rating on Vertex, which closed Wednesday at $35.11, down $1.21, or 3.33 percent. Canaccord has a price target of $35 on them.

Amarin (Nasdaq:AMRN), Amicus (Nasdaq:FOLD), Dendreon (Nasdaq:DNDN), NPS (Nasdaq:NPSP), Orexigen (Nasdaq:OREX), Pharmasset (Nasdaq:VRUS), Best Biotech Ideas for 2011

Within the small and mid-cap biotech sector, Canaccord Genuity named its best ideas for 2011, which include Amarin (Nasdaq:AMRN), Amicus (Nasdaq:FOLD), Dendreon (Nasdaq:DNDN), NPS Pharmaceuticals (Nasdaq:NPSP), Orexigen (Nasdaq:OREX), Pharmasset (Nasdaq:VRUS) and NPS Pharmaceuticals (Nasdaq:NPSP).

Canaccord said, "We believe that small and mid-cap biotech stock performance will continue to be driven by key catalysts: late-stage clinical data, FDA decisions, and sales growth. In addition to profiling each of our Best Ideas, we are providing quick updates on many of our coverage companies, including what we expect in 2011."

Amarin: AMR101 had positive data from its first pivotal trial in patients with very triglycerides.

Amicus: Amigal for Fabry disease is in a pivotal Phase 3 trial set to yield top-line data in H2/11.

Dendreon is a Best Idea based on blockbuster sales potential for prostate cancer immunotherapy Provenge, fueled in the near term by continued manufacturing and commercial expansion as well as upcoming announcement of a European launch strategy.

NPS Pharmaceuticals is a Best Idea based on 2011 expectations of highly compelling Phase 3 data read-out for previously-validated GATTEX in short bowel syndrome as well as hormone replacement drug NPSP558 in secondary hypoparathyroidism.

Orexigen: Contrave for obesity recently received a positive FDA panel recommendation that we think paves the way for approval in 2011.

Pharmasset: Hepatitis C nuc polymerase inhibitors will be key components of future therapy, in our view. We expect key events in 2011, including: Phase 2b data and a Phase 3 start for Roche-partnered RG7128, Phase2b data for wholly owned PSI-7977, and data from Pharmasset’s proprietary all oral, two-nuc combination study of PSI-938 and PSI-7977.

Amarin closed Tuesday at $5.92, up $0.12, or 2.07 percent. Amicus closed at $4.01, up $0.03, or 0.75 percent. Dendreon ended at $36.28, down $0.28, or 0.77 percent. NPS Pharmaceuticals closed at $7.11, up $0.09, or 1.28 percent. Orexigen closed at $9.01, down $0.01, or 0.11 percent. Pharmasset was up to $47.19, gaining $0.42, or 0.90 percent.

Pharmasset (Nasdaq:VRUS) Pipeline Still in Early Stages

Baird said they continue to recommend shares of Pharmasset (Nasdaq:VRUS), although it must be understood they they're still in the early stage of developing their pipeline.

Baird said, "Continue to recommend purchase on confirmatory FQ4-10 update. There were a few bits of incremental progress, in line with expectations and likely not stock-moving. We view Phase 2 data rollout as the best value-creating period to invest in Hepatitis C companies, and it’s still early innings there when considering VRUS’s full pipeline. The thesis is fully intact, catalyst flow is robust, and VRUS is likely to remain a top small-/emerging mid-cap idea heading into 2011."

For full year 2011, EPS was lowered from -$1.99 to -$2.15 and for full year 2012 from -$1.65 to -$2.10.

Pharmasset closed Wednesday at $43.59, gaining $1.41, or 3.34 percent.