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IONS

Ionis Pharmaceuticals

$57.73

0.42 (0.73%)

, BIIB

Biogen

$333.31

0.12 (0.04%)

07:02
10/13/17
10/13
07:02
10/13/17
07:02

Ionis Pharmaceuticals initiates clinical study of IONIS-MAPT

Ionis Pharmaceuticals (IONS) announced that it has initiated a Phase 1/2a clinical study of IONIS-MAPT in patients with mild Alzheimer's disease. Ionis earned a $10M milestone payment from Biogen (BIIB) related to the initiation of this study.

IONS

Ionis Pharmaceuticals

$57.73

0.42 (0.73%)

BIIB

Biogen

$333.31

0.12 (0.04%)

  • 17

    Oct

  • 18

    Oct

  • 24

    Oct

IONS Ionis Pharmaceuticals
$57.73

0.42 (0.73%)

10/12/17
BMOC
10/12/17
NO CHANGE
Target $130
BMOC
Outperform
AveXis price target raised to $130 from $123 at BMO Capital
BMO Capital analyst M. Ian Somaiya raised the price target on AveXis (AVXS) to $130 and maintained his Outperform rating on the stock. The analyst is moving forward his expectations for the launch of AVXS-101 for Type 1 spinal muscular atrophy by 12 months to the second half of FY18 based on the comparison of event-free survival data suggesting AveXis' product is superior to those of Biogen (BIIB) / Ionis (IONS)'s Spinraza. Somaiya says the end of Phase I meeting in Q4 will confirm an accelerated filing strategy in Type 1 SMA patients.
10/12/17
JEFF
10/12/17
NO CHANGE
Target $118
JEFF
Buy
AveXis price target raised to $118 from $108 at Jefferies
Jefferies analyst Biren Amin raised his price target for AveXis (AVXS) to $118 after hosting an spinal muscular atrophy expert to discuss the current landscape of therapies. While Biogen (BIIB) and Ionis Pharmaceuticals' (IONS) Spinraza seems to be performing well, the expert believes AveXis' AVXS-101 could capture between 60%-80% share in Type 1 once approved, Amin tells investors in a research note. The expert does not believe there will be enrollment issues for AveXis' pivotal trial in Type 1 SMA, the analyst adds. Amin keeps a Buy rating on AveXis shares.
10/06/17
GSCO
10/06/17
INITIATION
Target $30
GSCO
Sell
Ionis Pharmaceuticals resumed with a Sell at Goldman Sachs
Goldman analyst Salveen Richter resumed coverage on Acorda Therapeutics with a Sell and $30 price target.
09/29/17
BMOC
09/29/17
NO CHANGE
BMOC
Outperform
Ionis reaction to reports of death in database unwarranted, says BMO Capital
BMO Capital analyst Do Kim believes the pressure on Ionis shares after nine reported deaths of Spinraza patients were found using the FDA AERS database is unwarranted, noting that SMA Type 1 is usually fatal before one year. The analyst believes these deaths are not drug related and thinks the Q3 consensus Spinraza estimate is beatable. Kim keeps an Outperform rating on Ionis shares.
BIIB Biogen
$333.31

0.12 (0.04%)

10/05/17
10/05/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Microsoft (MSFT) upgraded to Buy from Hold at Canaccord with analyst Richard Davis saying investors are underestimating the "virtuous cycles" of Microsoft's four "compelling" growth drivers, namely Office Productivity, Gaming, Marketing, and Azure's Platform as a Service. 2. Biogen (BIIB) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Matthew Harrison saying the base business is underappreciated and Ocrevus share loss is slower than expected. 3. Sherwin-Williams (SHW) upgraded to Buy from Underperform at BofA/Merrill with analyst Steve Byrne saying the company announced a 3%-5% price increase on Tuesday and detailed plans to expand PF EBITDA margin to 19%-21% in 2020 from 17% in 2016. 4. BB&T (BBT) upgraded to Overweight from Equal Weight at Stephens with analyst Terry McEvoy noting that it has been the worst performing Super Regional bank in 2017 and he recommends taking advantage of that underperformance as he expects it to produce among the highest returns in the group going forward. 5. Celsion (CLSN) upgraded on improved financial outlook at Maxim with analyst Jason McCarthy saying the changes to the company's agreement with warrant holders, enabling the warrants to be exercised immediately following a rally in the stock, have removed the financial overhang on the company. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/05/17
MSCO
10/05/17
UPGRADE
MSCO
Overweight
Biogen upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Matthew Harrison upgraded Biogen to Overweight and increased to $375 from $311 saying the base business is underappreciated and Ocrevus share loss is slower than expected. The analyst thinks investors are overlooking key asset Spinraza, which has had the best launch of any orphan asset with $300M in sales in its first two quarters. Harrison sees Spinraza peak sales around $4B, which would inflect Biogen's topline growth rate by 3-4% and make it a mid-single digit grower ahead of Alzheimer's catalysts in 2019/2020. Further, the analyst said Biogen has a strong balance sheet that could fund more M&A and be an upside driver, while Alzheimer's remains the key catalyst.

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SPG

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DXCM

Dexcom

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