Benzinga's Top Downgrades

Analysts at Nomura downgraded Pharmacyclics Inc. (NASDAQ: PCYC) from Buy to Neutral. The price target for Pharmacyclics has been raised from $196 to $261.25. Pharmacyclics' shares closed at $254.22 yesterday.

Analysts at JP Morgan downgraded State Street Corporation (NYSE: STT) from Neutral to Underweight. The price target for State Street has been lowered from $76.50 to $72. State Street's shares closed at $74.67 yesterday.

Analysts at Jefferies downgraded Cyberonics Inc. (NASDAQ: CYBX) from Buy to Hold. The price target for Cyberonics has been lowered from $83 to $75. Cyberonics' shares closed at $72.03 yesterday.

Analysts at Goldman Sachs downgraded Host Hotels & Resorts, Inc. (NYSE: HST) from Neutral to Sell. The price target for Host Hotels & Resorts has been lowered from $23.50 to $18. Host Hotels & Resorts' shares closed at $20.66 yesterday.