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RARX

RA Pharmaceuticals

$14.23

-0.03 (-0.21%)

, ALXN

Alexion

$108.96

-0.85 (-0.77%)

12:19
12/04/17
12/04
12:19
12/04/17
12:19

RA Pharma slides after data as analyst voices competitive concerns

Ra Pharmaceuticals (RARX) announced that its RA101495 SC for the treatment of paroxysmal nocturnal hemoglobinuria met the primary endpoint in the Eculizumab native cohort in a clinical trial. However, Piper Jaffray analyst Christopher Raymond argued that the data "underwhelms on efficacy" in comparison to Alexion's (ALNX) Soliris. TRIAL RESULTS: Ra Pharmaceuticals has announced interim results from the company's ongoing, global Phase 2 clinical program evaluating RA101495 SC for the treatment of paroxysmal nocturnal hemoglobinuria. RA101495 SC met the primary endpoint in eculizumab naive patients. In these patients, a rapid, robust, and sustained reduction in lactate dehydrogenase levels from baseline to the mean of Weeks 6-12 and near-complete suppression of complement activity were observed. Interim results from the ongoing switch cohort demonstrate near complete, sustained, and uninterrupted inhibition of complement activity during and after eculizumab washout. In the U.S.-based cohort of inadequate responders to eculizumab, who have a history of elevated LDH, 3 patients have been enrolled. LDH stabilization and relief of side effects associated with eculizumab intolerance have been observed in the first patient enrolled in this cohort. Across all cohorts, no meaningful safety or tolerability concerns have been identified after more than 300 patient weeks of cumulative exposure, the company reported. DATA 'UNDERWHELMS' COMPARED TO SOLIRIS: Piper Jaffray's Raymond told investors that he believes the paroxysmal nocturnal hemoglobinuria data from RA Pharmaceuticals "underwhelms on efficacy" in comparison to Alexion's Soliris "and for that matter" ALXN1210. Noting that inferior efficacy to Soliris on its own should put the threat from Ra Pharmaceuticals to bed, he reminded investors nonetheless that ALXN1210 should raise the bar from a convenience standpoint. The analyst added that he sees "little reason to fret" at this point over the competitive threat to Alexion from RA101495, and reiterated an Overweight rating and $170 price target on Alexion's shares.RA PRICE TARGET UPPED: Meanwhile, his peer at BMO Capital raised his price target for RA Pharmaceuticals to $34 from $31, while reiterating an Outperform rating, after its RA101495 demonstrated clinical benefit in all three cohorts in the ongoing Phase 2 trial. Analyst M. Ian Somaiya told investors in a research note of his own that he believes the phase 3 design is rational and likely to succeed. Commenting on the potential impact on Alexion, the analyst noted that positive '1495 data supports his view that ALXN1210 Phase 3 results need to maintain if not raise the high efficacy and safety bar set by Soliris. Data from Phase 1/2 trials in the first half of 2018 of Roche (RHHBY)/Chugai's C5 antibody, with a similar profile to ALXN1210, represents the biggest competitive threat to Alexion, he contended. PRICE ACTION: In afternoon trading, shares of Ra Pharmaceuticals have dropped almost 40% to $8.80, while Alexion's stock has gained about 3% to $112.37.

RARX

RA Pharmaceuticals

$14.23

-0.03 (-0.21%)

ALXN

Alexion

$108.96

-0.85 (-0.77%)

RHHBY

Roche

$31.91

0.33 (1.05%)

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    Feb

RARX RA Pharmaceuticals
$14.23

-0.03 (-0.21%)

12/04/17
BMOC
12/04/17
NO CHANGE
Target $34
BMOC
Outperform
RA Pharmaceuticals price target raised to $34 from $31 at BMO Capital
12/04/17
12/04/17
NO CHANGE
Target $170

Overweight
RA data 'underwhelms' compared to Alexion's Soliris, says Piper Jaffray
Today's paroxysmal nocturnal hemoglobinuria data from RA Pharmaceuticals (RARX) "underwhelms on efficacy" in comparison to Alexion's (ALNX) Soliris "and for that matter" ALXN1210, Piper Jaffray analyst Christopher Raymond tells investors in a research note titled "Remind Us Again... Why Are We Worried About Ra Pharmaceuticals?" The analyst believes inferior efficacy to Soliris should put "to bed" the treat from RA, and he reminds investors that ALXN1210 "should raise the bar from a convenience standpoint." The analyst sees "little reason to fret" at this point over the competitive threat to Alexion from RA101495. Raymond keeps an Overweight rating on Alexion with a $170 price target.
12/04/17
12/04/17
NO CHANGE
Target $34

Outperform
RA Pharmaceuticals price target raised after trial success at BMO Capital
As previously reported, BMO Capital analyst M. IanSomaiya raised his price target for RA Pharmaceuticals to $34 from $31, while reiterating an Outperform rating, after its RA101495 demonstrated clinical benefit in all three cohorts in the ongoing Phase 2 paroxysmal nocturnal hemoglobinuria trial. The analyst believes phase 3 design is rational and likely to succeed.
11/10/17
FBCO
11/10/17
NO CHANGE
Target $23
FBCO
Outperform
RA Pharmaceuticals target raised to $23 ahead of data at Credit Suisse
Credit Suisse analyst Alethia Young raised her price target for RA Pharmaceuticals to $23 from $16 citing increased conviction on RA101495 into the upcoming data readout by year end or early January. Good trial enrollment in the open label study is a good clue on the upcoming data readout, Young tells investors in a research note. She thinks the enrollment pickup could be due to initial efficacy seen by doctors on the trial. The analyst keeps an Outperform rating on RA shares.
ALXN Alexion
$108.96

-0.85 (-0.77%)

11/06/17
PIPR
11/06/17
NO CHANGE
Target $170
PIPR
Overweight
Alexion IP extension efforts 'right on schedule,' says Piper Jaffray
Soliris' news today that its intellectual property in Japan has been extended through 2027, just a few months after the same was achieved in the U.S., shows its IP extension efforts "appear to be right on schedule," Piper Jaffray analyst Christopher Raymond tells investors in a research note. The analyst remains remain confident that Soliris will maintain its exclusivity for the next 10 years, despite biosimilar challengers. He keeps an Overweight rating on Alexion Pharmaceuticals with a $170 price target.
11/06/17
DBAB
11/06/17
NO CHANGE
Target $163
DBAB
Buy
Deutsche still bullish on Alexion after investor meetings
Deutsche Bank analyst Andrew Peters says he left investor meetings with Alexion Pharmaceuticals with renewed confidence that the company "remains a differentiated large-cap growth story" heading into 2018. He believes the recent weakness in the shares is overdone and reiterates a Buy rating on Alexion with a $163 price target.
11/01/17
FBCO
11/01/17
NO CHANGE
Target $166
FBCO
Outperform
Alexion abstract doesn't have negative read to Phase 3 trial, says Credit Suisse
Credit Suisse analyst Alethia Young attributes today's weakness in Alexion shares to concerns following the release of an abstract to be presented at the American Society of Hematology annual meeting. However, Young doesn't think there is a read to be made around the every 8 week dose cohort because the company is using a higher dose of 3600mg in its Phase 3 trial, she tells investors. The analyst said Alexion remains a top pick and she keeps an Outperform rating and $166 price target on the stock, which is down 2% to $117.38 at midday.
RHHBY Roche
$31.91

0.33 (1.05%)

11/20/17
BTIG
11/20/17
NO CHANGE
Target $242
BTIG
Buy
Shire selloff on Roche news seems overdone, says BTIG
BTIG analyst Timothy Chiang said today's weakness in Shire (SHPG) shares is overdone and creates a potential buying opportunity. While Roche's (RHBBY) emicizumab is likely to gain share at the expense of Shire's Advate, he does not expect a rapid conversion and thinks Shire's pipeline and platform seem overly discounted at current levels. Chiang has a Buy rating and $242 price target on Shire shares.
11/22/17
COWN
11/22/17
NO CHANGE
Target $105
COWN
Outperform
Impressive Venclexta abstract positive for AbbVie, says Cowen
Cowen analyst Steven Scala said a late breaking ASH abstract showed impressive data for AbbVie's Venclexta drug used in chronic lymphocytic leukemia. The analyst has modeled $2.6N in sales in 2024 and company guidance suggests sales could reach $6B in 2025. Scala reiterated his Outperform rating and $105 price target on AbbVie shares.
11/20/17
PIPR
11/20/17
NO CHANGE
Target $71
PIPR
Overweight
Piper a buyer of Bioverativ on Roche study selloff
Piper Jaffray analyst Christopher Raymond says he remains a buyer of Bioverativ (BIVV) after Roche (RHHBY) announced that its Haven 3 Phase III study met its primary endpoint. The analyst is waiting for the full data, expected in May, regarding absolute annualized bleed rates and consistency of effect. He remains confident in his forward estimates for Bioverativ's Eloctate and keeps an Overweight rating on the shares with a $71 price target. Absent full data detailing absolute annualized bleed rates for Roche's Hemlibra, it's difficult to draw too many conclusions on the relative efficacy compared to Eloctate in the non-inhibitor population, Raymond tells investors in a research note.
11/20/17
DBAB
11/20/17
NO CHANGE
Target $53
DBAB
Hold
Deutsche cuts Bioverativ target to $53 after positive Roche data
Deutsche Bank analyst Andrew Peters lowered his price target for Bioverativ (BIVV) to $53 from $65 and remains cautious on the shares following today's positive data from Roche's (RHHBY) Phase 3 study evaluating Hemlibra in noninhibitor hemophilia A patients. While full data is needed to better understand the clinical and competitive profile, the data reported today suggest Hemlibra will likely pressure the longevity and sustainability of Bioverativ's Eloctate franchise, Peters told investors earlier in a research note. The analyst reiterated a Hold rating on Bioverativ shares. The stock closed the trading day down 9.5% to $50.76. Shire (SHPG), another company with a hemophilia franchise, closed today down 4% to $141.37 while Roche rallied 6% to $30.82.

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