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SRNE

Sorrento Therapeutics

$8.25

1 (13.79%)

, CELG

Celgene

$94.39

2.41 (2.62%)

12:03
02/15/18
02/15
12:03
02/15/18
12:03

Celularity announces formation with $250M in funding from Celgene, others

Celularity is announcing the formation of the company with $250M in funding with contributions from Celgene (CELG), United Therapeutics (UTHR), Sorrento Therapeutics (SRNE), Human Longevity, Genting Group, the Dreyfus Family Office, Section 32, and Heritage Group. Celularity is co-founded with Vice Chairman, Peter H. Diamandis, MD, alongside Dr. Hariri. Celularity said it "sources, develops, and deploys transformative therapies derived from the placenta for treatment of complex medical conditions including hematological and solid tumors, autoimmune disease, diabetes, as well as degenerative effects of aging." It added, "By combining synergistic assets from Celgene, United Therapeutics, Sorrento Therapeutics, and Human Longevity Inc., Celularity is accelerating the development of cell and tissue regenerative products to address unmet medical needs. These treatments have the potential to reverse life-threatening diseases and extend the healthy human lifespan." Shares of Sorrento Therapeutics are up 12% to $9.25 in midday trading.

SRNE

Sorrento Therapeutics

$8.25

1 (13.79%)

CELG

Celgene

$94.39

2.41 (2.62%)

UTHR

United Therapeutics

$136.92

7.75 (6.00%)

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SRNE Sorrento Therapeutics
$8.25

1 (13.79%)

01/23/18
HCWC
01/23/18
NO CHANGE
Target $30
HCWC
Buy
Juno acquisition bodes well for Sorrento, says H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju says the acquisition of Juno Therapeutics (JUNO) by Celgene (CELG) bodes well for Sorrento Therapeutics (SRNE). The deal underscores the value inherent in Sorrento's proprietary non-viral chimeric antigen receptor technology that may fundamentally alter the way that CAR constructs can be integrated into T cells, Selvaraju tells investors in a research note. Further, he believes the company's ZTlido could be approved by the end of next month. Given the fact that the drug is being positioned as a best-in-class lidocaine preparation in a market segment where there is unlikely to be any competing promotional activity, the product opportunity is being underrated by investors, Selvaraju argues. He reiterates a Buy rating on Sorrento with a $30 price target.
08/03/17
OPCO
08/03/17
INITIATION
Target $7
OPCO
Outperform
Sorrento Therapeutics initiated with an Outperform at Oppenheimer
Oppenheimer analyst Mark Breidenbach initiated Sorrento Therapeutics with an Outperform and a $7 price target saying its core antibody discovery platform is a source of non-dilutive capital, in the form of out-licensing agreements, and feeds directly into Sorrento's early stage I/O pipeline. As a hedge for its I/O pipeline, Sorrento and its subsidiaries are developing two non-opioid pain management assets that could provide important near-term catalysts and product sales revenues starting in 2018.
01/16/18
HCWC
01/16/18
NO CHANGE
Target $30
HCWC
Buy
Sorrento Therapeutics price target raised to $30 from $20 at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Sorrento Therapeutics to $30 saying recent developments highlight the company's pipeline strength. Such developments include the acceptance of the New Drug Application for ZTilido as well as the filing of the European Marketing Authorization Application, the analyst tells investors in a research note. He reiterates a Buy rating on Sorrento.
CELG Celgene
$94.39

2.41 (2.62%)

01/29/18
WELS
01/29/18
NO CHANGE
Target $23
WELS
Outperform
Iovance Biotherapeutics price target raised to $23 from $17.50 at Wells Fargo
Wells Fargo analyst Jim Birchenough raised his price target for Iovance Biotherapeutics (IOVA) to $23 following feedback from a "prominent cell therapy expert" late last week. The expert described expanding capacity for Gilead's (GILD) Yescarta, skepticism on Celgene (CELG) and Juno Therapeutics' (JUNO) claims around broad outpatient CAR-T opportunity for JCAR17, and a preference for tumor infiltrating lymphocyte therapeutics from Iovance for solid tumors over T-Cell receptor therapeutics being developed by a large number of companies, Birchenough tells investors in a research note. He reiterates Outperform ratings on both Iovance and Gilead.
02/09/18
PIPR
02/09/18
NO CHANGE
PIPR
Piper Jaffray reiterates Outperform on Crispr after CSO departure
Piper Jaffray analyst Edward Tenthoff reiterated an Outperform rating and $39 price target on Crispr Therapeutics, despite Crispr trading down over 13% on news that Dr. Bill Lundberg is stepping down as Chief Scientific Officer and Celgene (CELG) has reduced its stake in the company to 6.1% from 8.0%. Tenthoff said he remains focused on Crispr's "therapeutic opportunity with first-in-man CTX001 Beta thalassemia and potentially sickle cell disease data this year."
02/13/18
LEHM
02/13/18
UPGRADE
Target $105
LEHM
Overweight
Celgene upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Geoff Meacham upgraded Celgene to Overweight with an unchanged price target of $105. The analyst remains concerned about Revlimid concentration risk long-term, but says the current valuation largely reflects the risk. Since the highs in October 2017, the stock has dropped $55 per share, Meacham tells investors in a research note. He notes Celgene's risk/reward profile based on his net present value analysis yields an "attractive upside case."
02/13/18
02/13/18
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. JPMorgan (JPM) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Brian Kleinhanzl saying he views the recent pullback in the shares as a buying opportunity. 2. Total (TOT) upgraded to Overweight from Equal Weight at Morgan Stanley and to Strong Buy from Outperform at Raymond James. 3. Celgene (CELG) upgraded to Overweight from Equal Weight at Barclays with analyst Geoff Meacham saying the current valuation largely reflects the risk. 4. Quest Diagnostics (DGX) upgraded to Outperform from Neutral at Credit Suisse with analyst A.J. Rice saying he believes the company has "substantial runway on several fronts," including its Optum partnership related to revenue cycle management, which he believes could reduce bad debts and claims denials. 5. Boeing (BA) upgraded to Buy from Hold at Edward Jones. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
UTHR United Therapeutics
$136.92

7.75 (6.00%)

01/18/18
FBCO
01/18/18
INITIATION
Target $118
FBCO
Underperform
United Therapeutics assumed with an Underperform at Credit Suisse
Credit Suisse analyst Martin Auster assumed coverage of United Therapeutics with an Underperform rating and $118 price target, as he believes the company is not well positioned to sustain its revenue given it faces generic competitive threats to about 60% of its business in 2018. Also, Auster views United Therapeutics as having few assets outside of PAH and a "speculative" pipeline.
12/27/17
WEDB
12/27/17
NO CHANGE
Target $232
WEDB
Outperform
United Therapeutics price target raised to $232 from $213 at Wedbush
Wedbush analyst Liana Moussatos raised her price target for United Therapeutics to $232 from $213 as she believes the Street is overlooking growth of not only Orenitram but also the next generation products, the first of which - RemoSynch implantable pump for Remodulin - just received the green light for approval from CDRH. The analyst notes that United Therapeutics is in a transition from sales growth of mature PAH treatments to a next generation pipeline which could accelerate long-term growth. However, she feels the Street is focused on the transition in 2018 and 2019 when patent expirations for Remodulin, Tyvaso and Adcirca take place with potential generic erosion of sales growth. Moussatos reiterates an Outperform rating on the shares.
01/05/18
OPCO
01/05/18
NO CHANGE
Target $180
OPCO
Outperform
United Therapeutics price target raised to $180 from $175 at Oppenheimer
Oppenheimer analyst Hartaj Singh raised his price target for United Therapeutics to $180 saying tax reform is a tailwind for the company. As United returns to sales/earnings growth post the Adcirca patent loss in May 2018, the stock should outperform due to earnings upgrades, Singh tells investors in a research note. He remains bullish on the shares with an Outperform rating.
01/10/18
JMPS
01/10/18
NO CHANGE
JMPS
Outperform
SteadyMed dip on competitor pipeline comments unwarranted, says JMP Securities
JMP Securities analyst Donald Ellis thinks the recent pullback in shares of SteadyMed (STDY) may have been due to comments from United Therapeutics (UTHR) about its own product pipeline. However, he views the dip as unwarranted, noting that United's RemoPro product would not be approved until 2020, if approved, and that its products do not address the issue of pain associated with treprostinil. The analyst, who expects SteadyMed's Tevyent to quickly take share from Remodulin, keeps an Outperform rating on SteadyMed shares.

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