NEW YORK (GenomeWeb News) — Shares in Decode Genetics were up 5.7 percent, or $.22, at $4.09 after the stock was upgraded by an investment bank today.
Piper Jaffray upgraded the stock to “outperform” from “market perform.”
Decode posted a 17-percent spike in fourth-quarter revenues last week, as R&D spending rose 4 percent and loss increased 10 percent.
Lehman Brothers responded last week by upgrading the stock to “equal-weight” from “underweight,” and the company’s share price rose 10 percent on Thursday.