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Fly News Breaks for November 13, 2018
ZGNX
Nov 13, 2018 | 07:35 EDT
Leerink analyst Marc Goodman started Zogenix with an Outperform and $60 price target as he initiates Neuroscience space with a Positive View. The analyst believes the Neuroscience sector is experiencing a "renaissance" as multiple new agents and mechanisms are coming up the pipeline across major therapeutic areas, the number of clinical studies is growing nicely, and the FDA is friendly to innovation in this space, companies are getting smarter about speed-to-market strategies and selecting niche sub-populations to focus on for initial product approvals, payer pushback on usage is much lower than in other categories, and physicians are enthusiastic about new agents. Regarding Zogenix, Goodman likes the epilepsy market for novel drugs because of physician enthusiasm for new agents based on a high unmet need and relatively low payer pushback. Further, he believes Fintepla's strong clinical profile should drive sales of about $1B in 2029.
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