Elan Corp. Shares Downgraded by Credit Suisse to “Neutral” (ELN)

Elan Corp. (NYSE: ELN) was downgraded by equities research analysts at Credit Suisse (NYSE: CS) from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday.

Separately, analysts at Deutsche Bank (NYSE: DB) upgraded shares of Elan Corp. from a “hold” rating to a “buy” rating in a research note to investors on Thursday, December 15th. Also, analysts at Jefferies Group (NYSE: JEF) reiterated a “buy” rating on shares of Elan Corp. in a research note to investors on Monday, December 12nd.

Elan Corporation, plc (Elan) is a neuroscience-based biotechnology company. Elan’s operations are organized into two business units: BioNeurology (formerly Biopharmaceuticals) and Elan Drug Technologies (EDT). BioNeurology engages in research, development and commercial activities primarily in neuroscience, autoimmune and severe chronic pain. EDT is an integrated drug delivery business unit of Elan, which offers product development and drug delivery technologies to enhance the performance of drugs that have been marketed worldwide. Its principal research and development, manufacturing and marketing facilities are located in Ireland and the United States. On September 17, 2009, Janssen Alzheimer Immunotherapy (Janssen AI), a newly formed subsidiary of Johnson & Johnson, completed the acquisition of the Company’s assets and rights related to Alzheimer`s Immunotherapy Program (AIP).

Shares of Elan Corp. opened at 12.85 on Thursday. Elan Corp. has a one year low of $6.10 and a one year high of $14.40. The stock’s 50-day moving average is $13.53 and its 200-day moving average is $11.36. The company has a market cap of $7.558 billion and a P/E ratio of 12.09.

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Posted by Web Inquirer Staff on 11 Feb 2012. Filed under Markets. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.