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Fly News Breaks for January 5, 2017
XENE, TXMD, RARX, KPTI, RXDX, IMMU, DBVT, AMAG, ALDR, GNMX, VRTX, GILD, ALKS, CELG
Jan 5, 2017 | 07:33 EDT
Jefferies' Biotechnology equity research team laid out their top picks for 2017. Following a volatile two years, the biotech space seeks to achieve "greater equilibrium" in 2017, the analysts write in a research note. They cite increasing competition, slowing volumes, and ramping payer leverage as reasons to remain selective when picking stocks this year and beyond. Among large-caps, Jefferies likes Celgene (CELG) for its "best-in-class growth" and sees limited downside in Gilead (GILD) shares. In the mid-cap space, the firm favors Alkermes (ALKS) given the prospects for Vivitrol and Aristada and a "strong" neurology pipeline as well as Vertex (VRTX). Jefferies' top small-cap picks include Aevi Genomics Medicine, Alder Biopharmaceuticals (ALDR), AMAG Pharmaceuticals (AMAG), DBV Technologies (DBVT), Immunomedics (IMMU), Ignyta (RXDX), Karyopharm (KPTI), RA Pharmaceuticals (RARX), TherapeuticsMD (TXMD) and Xenon Pharmaceuticals (XENE).
News For CELG;ALKS;GILD;VRTX;GNMX;ALDR;AMAG;DBVT;IMMU;RXDX;KPTI;RARX;TXMD;XENE From the Last 2 Days
ALKS
Mar 18, 2024 | 16:29 EDT
Baird initiated coverage of Alkermes with an Outperform rating and $37 price target. The company's 2024 guidance and its over $800M in cash as of the end of 2023 "provides a solid floor value for the stock," the analyst tells investors in a research note. The firm believes Alkermes' key pipeline agent ALKS 2680 has strong potential for narcolepsy type 1. The drug works on the causal pathway of the disease, with compelling Phase 1b data to date, says Baird. It attributes $7 per share to ALKS 2680 in narcolepsy type 1 and leaves narcolepsy type 2 and idiopathic hypersomnia as upside.