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Fly News Breaks for June 12, 2018
RARE, AIMT
Jun 12, 2018 | 08:24 EDT
JMP Securities analyst Liisa Bayko continues to recommend Aimmune (AIMT) shares following the company's "not-so-unexpected announcement" of a new CEO. Stephen Dilly announced plans to retire last fall and the incoming CEO, Jayson Dallas, who was most recently EVP and Chief Commercial Officer of Ultragenyx Pharmaceutical (RARE), has a skillset and expertise that should prove useful ahead of a potential launch of AR101, Bayko tells investors. She thinks a 5x multiple on her estimated peak sales of about $1B for AR101 is "justifiable," noting that this is before considering Aimmune's pipeline for egg and walnut allergy. Bayko keeps an Outperform rating and $40 price target on Aimmune shares.
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