Mylan Labs upgraded by Lehman

Mylan Laboratories Inc. was upgraded Wednesday by Lehman Brothers to overweight from equal weight. Canonsburg, Pa.-based Mylan is a generic and branded drugmaker, and launched a $1.25 billion stock buyback program on Tuesday. Mylan shares rose on Wednesday by 27 cents, or 1.38% to close at $19.85.on volume of 6.5 million shares versus a three-month running average of 1.7 million.

Onyx Pharma upgraded by Wachovia

Onyx Pharma Inc.'s stock was upgraded Wednesday by Wachovia Securities to market perform from underperform. The Emeryville, Calif.-based biotech firm focuses on cancer therapies. Onyx Pharma shares gained Wednesday by 51 cents, or 2.07%, to close at $25.11 on volume of 849,170 shares versus the three-month running average of 1.6 million.

LifeCell cut by Piper Jaffray

LifeCell Corp. was downgraded Wednesday by Piper Jaffray to market perform from outperform. The Branchburg N.J.-based biotech develops products made of human tissue for use in reconstructive, urogynecologic and orthopedic surgical procedures. LifeCell shares fell Wednesday by $1.56, or 10.18%, to close at $13.77 on volume of 1.5 million shares versus the three-month running average of 417,158.

MannKind downgraded by UBS

MannKind Corp. was downgraded Wednesday by UBS Securities to reduce from neutral. The Valencia, Calif.-based biopharmaceutical firm focuses on therapeutic products for diseases, such as diabetes, cancer, inflammatory, and autoimmune diseases. MannKind shares dropped Wednesday by 94 cents, or 9.49%, to close at $8.97 on volume of 510,566 shares versus the three-month running average of 137,561.

Cytogen initiated by Janney

Cytogen Corp. was initiated at a buy Wednesday by Janney Montgomery Scott. The Princeton, N.J.-based company is an oncology-focused biopharmaceutical firm. Cytogen shares were unchanged Wednesday at $5.16 on volume of 244,196 shares versus the three-month running average of 156,215.

Discovery Labs initiated by Janney

Discovery Laboratories Inc. was initiated at a buy Wednesday by Janney Montgomery Scott. The Warrington, Pa., company develops humanized lung surfactant technology as Surfactant Replacement Therapies for respiratory diseases. Discovery Labs shares were off Wednesday by 3 cents, or 0.44%, to close at $6.75 on volume of 417,102 shares versus the three-month running average of 425,014.

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