Biotech News Summary: Most advancing and declining stocks

Biotech stocks were down on Thursday, led by Celsion Corporation (NASDAQ:CLSN) with a fall of 9.75% after Brean Capital downgraded the stock to sell from buy and reduced its price target from $7 to $1.

Theravance Inc (NASDAQ:THRX) tumbled 7.81% after pricing public offering convertible subordinated debt offering.

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) plunged 6.28% on pricing stock offering at $7.50 per share.

VIVUS, Inc. (NASDAQ:VVUS) lost 4.19% after Brean Capital downgraded the stock to sell from hold.
InterMune, Inc. (NASDAQ:ITMN) declined 3.66% on pricing public offering of debt and common stock at $9.90 per share. JMP Securities has recently raised the stock from a market perform rating to an outperform rating.

Hemispherx BioPharma, Inc (NYSEAMEX:HEB) fell 3.08% after Robbins Arroyo LLP and Levi & Korsinsky filed class action lawsuits against the company.

Galena Biopharma Inc (NASDAQ:GALE) faced fourth decline in a row.

Sarepta Therapeutics Inc (NASDAQ:SRPT) retreated 2.75% after Wedbush trimmed the price target from USD 70.00 to USD 60.00 on the stock, reaffirming an outperform rating.

Sequenom, Inc. (NASDAQ:SQNM) trended down after Portfolio Grader recommended selling the stock.

Dendreon Corporation (NASDAQ NDN) turned red while Nektar Therapeutics (NASDAQ:NKTR) extended fall, both ended 2.25% down on Thursday.

Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) continued to fall after disclosing plans to offer 4.4 million shares.

Despite hitting new high yesterday, Celgene Corporation (NASDAQ:CELG) edged down followed by Amgen, Inc. (NASDAQ:AMGN), Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Exelixis, Inc. (NASDAQ:EXEL).

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) traded below average-volume while CEL-SCI Corporation (NYSEAMEX:CVM) traded above average-volume.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) was the most active stock in the industry but showed no change by the end of trade on Thursday. Peregrine Pharmaceuticals (NASDAQ PHM) also experienced no change on below-average volume.

On the upside, NuPathe Inc (NASDAQ ATH) was the biggest gainer among biotech companies after its Zecuity was approved by the FDA for the acute treatment of Migraine.

Inovio Pharmaceuticals, Inc. (NYSEAMEX:INO) rose 7.42% on Thursday. Same day, Piper Jaffray analysts initiated coverage on the stock with an overweight rating.

Pacific Biosciences of California (NASDAQ ACB) extended three-day winning streak after Maxim Group lifted its price target from $3.00 to $4.00 on the stock.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) continued to trade near highs yesterday, ending the day up 2.37%.

Incyte Corporation (NASDAQ:INCY) rose 1.6% after analysts at Zacks reiterated their neutral rating.

Biogen Idec Inc. (NASDAQ:BIIB) was up a day after the company and Elan (NYSE:ELN) stated that that they have filed for regulatory approval to increase the use of multiple sclerosis drug Tysabri with the FDA and the European Medicines Agency.

More among biotech gainers were Illumina, Inc. (NASDAQ:ILMN), Zalicus Inc (NASDAQ:ZLCS), Cell Therapeutics Inc (NASDAQ:CTIC) and Gilead Sciences, Inc. (NASDAQ:GILD).