Keefe Bruyette & Woods analyst Jefferson Harralson has tweaked his price target for shares of Pinnacle Financial Partners following the downtown bank's recent third-quarter results. Harralson, who rates Pinnacle a 'buy,' now sees Pinnacle climbing to $58, up from $54. That still leaves little upside, however, for Pinnacle (Ticker: PNFP), which closed Friday trading at $54 and change.
Analysts at Goldman Sachs have removed LifePoint Health from their 'conviction buy' list following the recent profit warnings from HCA Holdings and Community Health Systems. The Goldman team still rates Brentwood-based as a 'buy' and is sticking to its $87 price target. LifePoint (Ticker: LPNT) ended last week at a little more than $64.
Vanderbilt University Medical Center has partnered with Delaware-based Incyte Corp. to explore new cancer therapies.
Incyte Corp. is a Delaware-based biopharmaceutical company focused on oncology treatments. The alliance, terms of which were not disclosed, will allow scientists at VUMC and Incyte to share discoveries and work together on finding and testing new therapies.
"This partnership leverages the strengths of scientific discovery and translational biology here at Vanderbilt with a remarkable cancer therapeutics pipeline from Incyte," Dr. Michael Savona, director of the Vanderbilt Ingram Cancer Center Hematology Early Therapeutics Program, said in a release. "This collaboration will help us best determine the right therapies for the right patient. It is a fantastic opportunity."
The collaboration between VUMC and Incyte is for at least three years. Read more here.
Somewhat lost in the Thursday noise of Community Health Systems' Q3 profit warning, stock slump and analyst reactions was the move by Mizuho Securities analyst Sheryl Skolnick to also cut her rating and price target on fellow local hospital operator LifePoint Health. Skolnick — who decimated her CHS target Thursday morning — now has a 'neutral' rating on Brentwood-based LifePoint instead of a 'buy' and sees its shares climbing to $76 instead of $93. LifePoint (Ticker: LPNT) slumped more than $10 to about $60 but are up more than 4 percent this morning.
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