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CNCE

Concert Pharmaceuticals

$27.68

-0.35 (-1.25%)

, INCY

Incyte

$93.06

-3.56 (-3.68%)

10:16
01/12/18
01/12
10:16
01/12/18
10:16

Concert pullback on PTAB decision a buying opportunity, says Stifel

Stifel analyst Adam Walsh called the news that the USPTO denied Concert Pharmaceuticals' Post Grant Review petition on Incyte's (INCY) '335 patent for Jakafi a "setback," but "certainly not the end" for Concert's deuterated ruxolitinib for alopecia areata. The PTAB decision does not prohibit Concert from challenging the '335 patent's validity at a later time in court, noted Walsh, who also points out the Phase 2a trial in alopecia areata will continue as planned. The analyst, who sees today's pullback as a buying opportunity, keeps a Buy rating on Concert shares but lowered his price target on the stock to $27 from $30.

CNCE

Concert Pharmaceuticals

$27.68

-0.35 (-1.25%)

INCY

Incyte

$93.06

-3.56 (-3.68%)

  • 12

    Jan

  • 18

    Jan

CNCE Concert Pharmaceuticals
$27.68

-0.35 (-1.25%)

04/05/17
STFL
04/05/17
NO CHANGE
Target $31
STFL
Buy
Concert weakness a buying opportunity, says Stifel
Stifel analyst Adam Walsh said he believes the clinical tablet appearance issue that Concert Pharmaceuticals blamed for the delay in the start of its alopecia areata trial should be relatively easy to fix and only result in a minor delay. He continues to project U.S. approval and launch in FY20 and recommends shares be bought on related weakness. Walsh keeps a Buy rating and $31 price target on Concert shares.
05/17/17
STFL
05/17/17
NO CHANGE
Target $31
STFL
Buy
Resolution of Concert clinical hold should take quarter 'at most,' says Stifel
After Concert Pharmaceuticals announced that that FDA has placed the company's CTP-543 Phase 2 trial for alopecia areata on clinical hold, Stifel analyst Adam Walsh noted that no safety concerns were highlighted and that Concert already has the data of interest in-house, leading him to believe that the resolution of the hold will take a quarter "at most." The analyst, who still expects Concert to initiate and enroll the trial in 2017 and continues to project U.S. approval and launch in FY20, recommends buying on weakness and keeps a Buy rating and $31 price target on Concert shares.
07/24/17
HCWC
07/24/17
INITIATION
Target $20
HCWC
Buy
Concert Pharmaceuticals initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Andrew Fein started Concert Pharmaceuticals with a Buy rating, stating that recent lifting of a clinical hold on CTP-543 removed an overhang and cleared the path for Phase 2a readout next year. The analyst, who is bullish on the long-term potential of CTP-543 in alopecia areata, set a $20 price target on Concert shares.
12/19/17
UBSW
12/19/17
NO CHANGE
Target $34
UBSW
Buy
Concert Pharmaceuticals price target raised to $34 from $22 at UBS
UBS analyst Jeffrey Hung raised his price target on Concert Pharmaceuticals to $34 from $22 to reflect higher than expected demand for novel alopecia treatments. He continues to see a substantial opportunity for its alopecia treatment and increased his launch assumptions. The analyst also pointed to the company's clinical candidates that demonstrate the strategic value of the platform and pipeline optionality. Hung reiterated his Buy rating on Concert Pharmaceuticals shares.
INCY Incyte
$93.06

-3.56 (-3.68%)

01/02/18
RBCM
01/02/18
UPGRADE
RBCM
Outperform
Incyte upgraded to Outperform at RBC Capital on improved risk-reward
As reported earlier, RBC Capital analyst Brian Abrahams upgraded Incyte to Outperform from Sector Perform. Abrahams says the 31% decline in the stock price from the September high makes for more substantially improved risk-reward profile as expectations for the phase 3 epa melanoma readout have come down. The analyst says he remains bullish on the long-term growth prospects for Jakafi, modeling its undiscounted, taxed cash flows through end-2026 patent expiry of about $14B.
01/02/18
OPCO
01/02/18
NO CHANGE
Target $120
OPCO
Perform
Incyte price target lowered to $120 from $135 at Oppenheimer
Oppenheimer analyst Jay Olson lowered his price target for Incyte to $120 from $135, citing share underperformed following the presentation of updated ECHO-202 data for epacadostat+Keytruda in advanced melanoma at ESMO. The analyst believes the Incyte share price decline was driven by loss of M&A premium as investors became disappointed by limited Biotech deal activity, concern about potential share price impact of ECHO-301 results in 1H18, and nervousness about the data at ESMO. Olson reiterates an Perform rating on the shares.
01/08/18
DBAB
01/08/18
NO CHANGE
Target $110
DBAB
Buy
Celgene deal 'incremental negative' for Incyte, says Deutsche Bank
Deutsche Bank analyst Navin Jacob calls Celgene's (CELG) acquisition of Impact Biomedicines "one step" in the right direction. The analyst estimates Impact's Jak2 inhibitor fedratinib can achieve 20% of peak Jakafi sales in myelofibrosis and polycythemia vera, which translates to $1B. The asset fits Celgene's business and the $2.4B that the company is paying over the next two years "doesn't appear egregious for a commercial ready asset," Jacob tells investors in a research note. The analyst also views Celgene's acquisition as an "incremental negative" for Incyte (INCY). Given direct overlap, any future potential acquisition of Incyte by Celgene has been removed, Jacob contends. He keeps a Hold rating on Celgene with a $110 price target.
01/08/18
STFL
01/08/18
NO CHANGE
STFL
Buy
NewLink Genetics timelines mostly in-line with prior guidance, says Stifel
Stifel analyst Stephen Willey noted that NewLink Genetics (NLNK) now expects to complete the majority of enrollment in the Indigo301 melanoma trial by year-end, versus its previous expectation to complete enrollment in 2018, which he said is likely due to additional time required for dose optimization of the novel indoximod salt formulation. The remainder of the 2018 calendar the company laid out is full of mostly expected catalysts and in-line with prior guidance, said Willey, who still expects NewLink to remain levered to Incyte's (INCY) date from the Phase 3 ECHO-301 trial. Willey keeps a Buy rating on NewLink shares.

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$0.00

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BMRN

BioMarin

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Pure Storage

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DF

Dean Foods

$9.79

(0.00%)

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FOX

21st Century Fox

$37.45

(0.00%)

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$37.92

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09:38
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$37.45

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$104.05

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Comcast

$32.34

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Comcast

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RLH

Red Lion Hotels

$10.45

(0.00%)

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BOSC

B.O.S. Better Online

$2.26

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EXR

Extra Space Storage

$92.96

(0.00%)

09:30
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KSS

Kohl's

$65.47

(0.00%)

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DSX

Diana Shipping

$4.27

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PGR

Progressive

$61.65

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KSS

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$65.47

(0.00%)

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$65.47

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NEM

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CBB

Cincinnati Bell

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KSS

Kohl's

$65.47

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MU

Micron

$55.48

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