Stifel Nicolaus Initiates/Restarts BIIB, AFFY, CELG, GILD, ACOR, ARQL, ARIA, EXEL, BSTC at Buy, AMGN, DNDN at Hold

Stifel Nicolaus' Joel Sendek initiated and resumed coverage on the following Biotech and Drug stocks Thursday morning:

• Biogen (Nasdaq: BIIB) with a Buy rating and a $144 price target
  
• Affymax (Nasdaq: AFFY) with a Buy rating and a $19 price target
  
• Celgene (Nasdaq: CELG) with a Buy rating and a $87 price target
  
• Gilead (Nasdaq: GILD) with a Buy rating and a $57 price target
  
• Acorda Therapeutics (Nasdaq: ACOR) with a Buy rating and a $34 price target
  
• ArQule (Nasdaq: ARQL) with a Buy rating and a $13 price target
  
• Ariad Pharma (Nasdaq: ARIA) with a Buy rating and a $19 price target
  
• Exelixis (Nasdaq: EXEL) with a Buy rating and a $8 price target
  
• BioSpecifics Technologies (Nasdaq: BSTC) with a Buy rating and a $ price target
  
• Amgen (Nasdaq: AMGN) with a Hold rating
  
• Dendreon (Nasdaq: DNDN) with a Hold rating

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