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Fly News Breaks for September 22, 2015
CEMP, ALDR, AMAG, ALKS, BMRN, CELG
Sep 22, 2015 | 08:00 EDT
Analysts at Jefferies say their Washington D.C. consultants indicate the recent political rhetoric around drug pricing is unlikely to result in any substantive future policy changes that would impact biotech sector fundamentals. As such, they recommend using yesterday's selloff to buy select companies including Celgene (CELG), BioMarin (BMRN) and Alkermes (ALKS). Pricing concerns are nothing new, and will likely continue to be a headwind for the sector, the analysts tell investors in a research note. Hillary Clinton's proposal to combat drug pricing is likely to include "some combination of old and tried policies that have been out there for a few years," they write. The analysts also like shares of AMAG Pharmaceuticals (AMAG), Alder Biopharmaceuticals (ALDR) and Cempra (CEMP). The Jefferies Biotechnology research team is led by Brian Abrahams, Eun Yang and Biren Amin.
News For CELG;BMRN;ALKS;AMAG;ALDR;CEMP 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.