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Marvell Technology Group (MRVL)

Goldman Sachs reiterates buy; raises estimates, price target

Goldman analyst James Schneider said on Oct. 26 that Marvell raised its $680 million-$730 million third-quarter revenue guidance to $760 million-$775 million, noting broad demand improvement within multiple end-markets, which he believes is driven primarily by PCs, enterprise networking, and consumer electronics. Schneider noted that the company did not comment on operating expenses or margins, but he expects it will be able to maintain gross margin in the 55% range for the next few quarters.

Schneider raised his earnings per share (EPS) estimates for fiscal 2010 (ending January) from 55 cents to 58 cents, for fiscal 2011 from 90 cents to 95 cents, and for fiscal 2012 from $1.15 to $1.20. He also hiked his $19 six-month price target to $20. Schneider said Marvell remains his top pick in semiconductors.

Biocryst Pharmaceuticals (BCRX)

Leerink Swann keeps market perform

Leering Swann analyst Joseph Schwartz said on Oct. 26 that the Centers for Disease Control and Prevention (CDC) issued emergency use authorization for IV peramivir in certain hospital patients with H1N1 influenza. Schwartz noted that Biocryst has transferred to the Dept. of Health and Human Services an initial supply of 1,200 courses of IV peramivir for 5 days, and is prepared to supply more.

Schawarz said Biocryst stock may rise modestly in response to this news, and the possibility that the CDC may report increases in H1N1 prevalence in the next few weeks. But Schwarz said that most pandemic plans call for swine flu infections to peak in October, so the peak may be approaching.

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