2018-04-09 08:41:09AVXS   - $115.91
-3.69 (-3.09%) , NVS - $80.20
-0.86 (-1.06%) … 08:4104/09/18 04/0908:41 04/09/1808:41 | Jefferies highlights other gene theraphy players after AveXis takeoverNovartis' (NVS) deal to acquire AveXis (AVXS) for $8.7B should remind investors about the ongoing attractiveness within smid-cap biotech, Jefferies analyst Michael Yee tells investors in a research note. Novartis' two large gene therapy deals in four months will lead to a question of "who's next," the analyst adds. Yee says other mid-late stage gene therapy players include Bluebird Bio (BLUE), Spark Therapeutics (ONCE), BioMarin (BMRN), Abeona Therapeutics (ABEO), Regenxbio (RGNX), Nightstar Therapeutics (NITE) and Voyager Therapeutics (VYGR). AVXS - $115.91
-3.69 (-3.09%) NVS - $80.20
-0.86 (-1.06%) BLUE - $162.70
-7.45 (-4.38%) ONCE - $62.06
-1.19 (-1.88%) BMRN - $76.01
-2.69 (-3.42%) ABEO - $14.00
-0.35 (-2.44%) RGNX - $27.20
-1.1 (-3.89%) NITE - $11.70
-0.19 (-1.60%) VYGR - $17.37
-0.76 (-4.19%) | |
|---|
- $115.91
-3.69 (-3.09%) - 04/09/18
- FBCO
04/09/18
NO CHANGETarget $170
FBCO
Outperform AveXis price target raised to $170 from $139 at Credit Suisse Credit Suisse analyst Martin Auster raised his price target for AveXis to $170 from $139 to reflect his growing confidence in AVXS-101's ability to treat the broader SMA incidence population, which drives an incremental $200M in annual revenue. The analyst reiterates an Outperform rating on the stock. - 04/09/18
- MZHO
04/09/18
DOWNGRADEMZHO
Neutral AveXis downgraded to Neutral from Buy at Mizuho Mizuho downgraded AveXis (AVXS) to Neutral following the acquisition by Novartis (NVS) for $218 per share in cash. - 04/09/18
- BERN
04/09/18
NO CHANGETarget $144
BERN
Outperform Bernstein not too surprised with AveXis sale Bernstein analyst Vincent Chen notes that Novartis (NVS) and AveXis (AVXS) announced an agreement for the former to purchase AveXis for $218 per share, a total of $8.7B. The analyst says he has long suspected he would see acquisitions in gene therapy and that AveXis could be a prime candidate, so he is not too surprised to see it go. However, the analyst acknowledges that he had not pegged Novartis as the top contender. Noting that the announcement should be a positive for others in the space, Chen reiterates an Outperform rating and $144 price target on AveXis shares. - 04/09/18
- JEFF
Jefferies ponders other potential suitors for AveXis after Novartis deal Jefferies analyst Biren Amin asks who else can jump into the mix after AveXis (AVXS) agreed to be acquired by Novartis (NVS) for $218 per share in an all-cash deal. The analyst, who does not expect anti-trust issues to arise with the deal on the table, notes the speculation that Biogen (BIIB) may need to evaluate AveXis at some point. The Novartis deal could be the "trigger that forces it to do so," Amin writes in a research note. Further, the analyst has always felt Roche (RHHBY) could have an interest in AveXis given its development program with RG7916. He points out that AveXis Chairman Dan Welch was the CEO of Intermune when Roche purchased the company in 2014 for $8.3B. AveXis in premarket trading is up 81%, or $94.14, to $210.05. - $80.20
-0.86 (-1.06%) - 03/21/18
- WELS
03/21/18
NO CHANGEWELS
Outperform Amphastar court win a 'major' positive, says Wells Fargo Wells Fargo analyst David Maris called the news of Massachusetts' District Court entering a final judgement in favor of Amphastar (AMPH) in the patent lawsuit regarding Lovenox brought by Momenta (MNTA) and Novartis' (NVS) Sandoz division a "major positive" that again demonstrates Amphastar's ability to face down larger, better-funded companies and get difficult products to market. He maintains an Outperform rating on Amphastar shares. - 03/02/18
- OPCO
03/02/18
INITIATIONTarget $16
OPCO
Outperform Conatus initiated with an Outperform at Oppenheimer Oppenheimer analyst Jay Olson initiated Conatus (CNAT) with an Outperform rating and $16 price target based on his view that significant value for shareholders, physicians and patients can be unlocked by the company's "unique" approach to liver disease. In a research note to investors, Olson said he sees emricasan as well positioned to potentially demonstrate efficacy in a broad range of liver diseases, including NASH, adding that the program is viewed as "partially de-risked" through its partnership with Novartis (NVS). - $162.70
-7.45 (-4.38%) - 03/28/18
Bluebird Bio and Celegene to co-develop bb2121 anti-BMCA therapy Bluebird Bio (BLUE) and Celgene (CELG) announced that the companies have entered into an agreement to co-develop and co-promote bb2121, an investigational anti-B-cell maturation antigen, or BCMA chimeric antigen receptor, or CAR, T cell therapy for the potential treatment of patients with relapsed/refractory multiple myeloma in the United States.The companies originally entered into a broad, global strategic research collaboration in 2013 to discover, develop and commercialize novel therapies in oncology, which included bb2121. - 03/21/18
- MSCO
03/21/18
NO CHANGETarget $209
MSCO
Equal Weight Bluebird Bio price target to $209 from $152 at Morgan Stanley Morgan Stanley analyst Matthew Harrison raised his price target on Bluebird Bio (BLUE) to $209 from $152, stating that he now expects BCMA therapies to take 50% of the third line market by 2030 and noting that bb2121 has 50% market share there. The new assumptions increase his peak sales forecast to about $2.6B from about $1B, he pointed out. However, Harrison keeps an Equal Weight rating on Bluebird, stating that he would expect new data to be available at ASCO in June, but would also expect to see competitor data potentially from Celgene's (CELG) Juno, Gilead's (GILD) Kite, Johnson & Johnson's (JNJ) Nanjing Legend and others. - 03/16/18
Bluebird Bio initiated with a Sell at Favus - 03/14/18
- JANY
03/14/18
INITIATIONTarget $220
JANY
Neutral Bluebird Bio initiated with a Neutral at Janney Capital Janney Capital initiated Bluebird Bio with a Neutral rating and $220 fair value estimate.Target $220. - $62.06
-1.19 (-1.88%) - 02/21/18
- BERN
02/21/18
NO CHANGETarget $60
BERN
Outperform Spark Therapeutics price target lowered to $60 from $71 at Bernstein Bernstein analyst Vincent Chen lowered his price target for Spark Therapeutics to $60 from $71 saying management's comments bode well for SPK-8011, but RPE65 model update takes down valuation. The analyst reiterates an Outperform rating on the shares. - 02/21/18
- CANT
02/21/18
NO CHANGETarget $100
CANT
Overweight Spark could have 'transformative year' in 2018, say Cantor Fitzgerald Cantor Fitzgerald analyst Elemer Piros anticipates 2018 could become a "transformative year" for Spark Therapeutics with advancement of its hemophilia B program into Phase 3 development, greater clarity on Hemophilia A program in mid-2018, and the commercialization of Luxturna. The analyst lowered his price target for the shares to $100 from $105 following the company's Q4 results and reiterates an Overweight rating on the name. - 02/14/18
On The Fly: Top five analyst downgrades Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PepsiCo (PEP) downgraded to In Line from Outperform at Evercore ISI with analyst Robert Ottenstein saying that while the company's dividend increase is "important and positive," he no longer expects the company to outperform in the beverage sector amid an "array of issues" at North America Beverage segment limiting upside performance. 2. Spark Therapeutics (ONCE) downgraded to Neutral from Overweight at JPMorgan with analyst Cory Kasimov saying he remains optimistic about the long-term outlook for the company, but notes the shares are now within 10% of his price target following the recent rally. 3. Chimerix (CMRX) downgraded to Underweight from Neutral at JPMorgan with analyst Jessica Fye saying with base-case timing for the AdAPT data well over a year away, the shares will underperform over the near term. 4. Avis Budget (CAR) downgraded to Sell from Neutral at Goldman Sachs with analyst David Tamberrino saying he believes transitory benefits from Hurricane recovery demand are waning, and headwinds from reduced residual values, higher interest rates, continued competition, and increased SG&A expenses will pressure Avis' earnings outlook. 5. Lexicon (LXRX) downgraded to Underweight from Neutral at JPMorgan with analyst Jessica Fye saying the Xermelo launch remains slow, and consensus estimates of $55M and $99M for 2018 and 2019 are too high. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. - 03/08/18
- FBCO
03/08/18
NO CHANGETarget $75
FBCO
Outperform Spark Therapeutics price target raised to $75 from $61 at Credit Suisse Credit Suisse analyst Martin Auster raised his price target for Spark Therapeutics to $75 from $61 as he expects SPK-8011 to re-emerge as a competitive player in Hemophilia A gene therapy in 2018. The analyst reiterates an Outperform rating on the shares. - $76.01
-2.69 (-3.42%) - 02/23/18
- STFL
02/23/18
NO CHANGETarget $102
STFL
Buy Scrutiny of BioMarin's pegvaliase likely to increase, says Stifel Stifel analyst Stephen Willey said BioMarin's better than consensus forecast for its FY18 revenue keeps him confident in the fundamentals of its base business, though the "increasingly measured" commentary from management around pegvaliase's regulatory path/labeling and subsequent launch trajectory reinforces his lack of confidence in his longer-term pegvaliase estimates. He contends that the May 25, 2018 PDUFA date for pegvaliase has become of "heightened importance for investors," Willey told investors earlier. He lowered his price target on BioMarin shares to $102 from $105, largely to reflect a shallower pegvaliase launch trajectory, but keeps a Buy rating on the stock. - 02/23/18
- BMOC
02/23/18
NO CHANGETarget $125
BMOC
Outperform BMO ups BioMarin target to $125, sees upside from guidance BMO Capital analyst Ian Somaiya last night raised his price target for shares of BioMarin Pharmaceutical to $125 from $119 following the company's Q4 results. The analyst cites better total revenue guidance, higher pricing of pegvaliase, and the benefit of tax reform for the target bump. He believes BioMarin's 2018 guidance provides upside while its pipeline markets. The analyst kept an Outperform rating on the shares. - 02/23/18
- LEER
02/23/18
NO CHANGETarget $132
LEER
Outperform BioMarin execution, new launches key in 2018, says Leerink Leerink analyst Joseph Schwartz noted earlier in his recap of BioMarin's Q4 report that the company's revenue topped both his and the consensus forecast though its earnings missed expectations. BioMarin "optimism" towards 15% year-over-year growth through 2020 is important, said Schwartz, who added that he's particularly interested in 2018 in a better understanding of the market opportunity for Brineura along with the initial launch dynamics for pegvaliase, if approved. Noting tax rate adjustments, Schwartz lowered his price target on BioMarin to $132 from $142 and keeps an Outperform rating on the stock. - 03/23/18
- RHCO
03/23/18
NO CHANGETarget $130
RHCO
Buy SunTrust sees FDA report on children's ACH treatment as positive for BioMarin SunTrust analyst Edward Nash writes that his review of the latest FDA briefing document released ahead of Adcom meeting discussing the drug development for the treatment of children with achondroplasia may be a positive for Biomarin. Nash notes that the company is "established as a leader in the space" and its current trial design with top-line Phase 3 data expected in late 2019 may exceed FDA expectations. The analyst keeps his Buy rating and a $130 price target on BioMarin. - $14.00
-0.35 (-2.44%) - 11/08/17
On The Fly: Top analyst initiations Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Abeona Therapeutics (ABEO) initiated with a Buy at SunTrust. 2. Cogentix Medical (CGNT) resumed with a Buy at Roth Capital. 3. Accenture (ACN) and Cognizant (CTSH) were initiated with a Buy at Pivotal Research. 4. Assembly Biosciences (ASMB) initiated with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. - 01/23/18
- RBCM
01/23/18
INITIATIONTarget $26
RBCM
Outperform Abeona Therapeutics assumed with an Outperform at RBC Capital RBC Capital analyst Kennen MacKay assumed Abeona Therapeutics coverage with an Outperform rating and a price target of $26, removing a Speculative Risk tag from the stock. MacKay says Abeona is an "emerging gene therapy player with a promising diversified pipeline of late- and early-stage assets targeting metabolic and dermatologic rare diseases", and he is positive on 2018 catalysts with anticipated data "validating datasets for MPS and/or RDEB". - 01/23/18
On The Fly: Top five analyst initiations Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Abeona Therapeutics (ABEO) assumed with an Outperform at RBC Capital. 2. Jack Henry (JKHY) initiated with a Neutral at DA Davidson. 3. Woodward (WWD) re-initiated with a Market Perform at Barrington. 4. Navistar (NAV) initiated with a Neutral at Buckingham. 5. Global Blood Therapeutics (GBT) initiated with an Outperform at William Blair. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. - 01/30/18
- JEFF
01/30/18
NO CHANGETarget $28
JEFF
Buy Jefferies views RMAT designation as 'underappreciated win' for Abeona The Regenerative Medicine Advanced Therapy designation for EB-101 in recessive dystrophic epidermolysis bullosa is an "underappreciated win" for Abeona Therapeutics, Jefferies analyst Maury Raycroft tells investors in a research note. The analyst believes RMAT designation nearly ensures an "accelerated approval" path without need for formal post-approval confirmatory studies. He remains a buyer of Abeona shares with a $28 price target. - $27.20
-1.1 (-3.89%) - 03/12/18
- EVER
03/12/18
DOWNGRADETarget $35
EVER
In Line Regenxbio downgraded to In Line on valuation at Evercore ISI As previously reported, Evercore ISI downgraded Regenxbio to In Line from Outperform and raised its price target to $35 from $30. Analyst Josh Schimmer cites the strong run in shares and notes value of the company will depend heavily on Regenxbio's ability to successfully develop and commercialize its own compelling gene therapy products. - 01/05/18
- RAJA
01/05/18
NO CHANGETarget $39
RAJA
Outperform Regenxbio weakness a buying opportunity, says Raymond James - 03/12/18
- EVER
03/12/18
DOWNGRADEEVER
In Line Regenxbio downgraded to In Line from Outperform at Evercore ISI - 02/12/18
- MZHO
02/12/18
INITIATIONMZHO
Neutral Regenxbio initiated with a Neutral at Mizuho Mizuho analyst Difei Yang started Regenxbio with a Neutral rating and $28 price target. NITE Nightstar Therapeutics - $11.70
-0.19 (-1.60%) - 10/23/17
- LEER
10/23/17
INITIATIONTarget $25
LEER
Outperform Nightstar Therapeutics initiated with an Outperform at Leerink Leerink analyst Joseph Schwartz started Nightstar Therapeutics with an Outperform rating and $25 price target, while noting that the company's late-stage candidate - NSR-REP1 - is poised to enter Phase 3 after showing preservation or improvement in visual acuity among choroideremia patients in Phase 2. - 02/27/18
- MZHO
02/27/18
INITIATIONTarget $20
MZHO
Buy Nightstar Therapeutics initiated with a Buy at Mizuho Mizuho analyst Difei Yang started Nightstar Therapeutics with a Buy rating and $20 price target. The analyst believes the company, with a Phase III pivotal trial of NSR-REP1 starting in the first half of 2018, is leading the way in gene therapy for the treatment of choroideremia, a rare inherited retinal disease. Yang sees "strong potential" for NSR-REP1 with additional upside from the company's earlier-stage pipeline products. - 10/23/17
On The Fly: Top five analyst initiations Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Ball Corp. (BLL) initiated with a Buy at UBS. 2. Deciphera (DCPH) was initiated with a Buy at Nomura Instinet, an Outperform at JMP Securities, and an Overweight at JPMorgan. 3. Nightstar Therapeutics (NITE) was initiated with an Outperform at Leerink, BMO Capital, and Wedbush, and a Buy at Jefferies. 4. Roku (ROKU) initiated with an Outperform at William Blair, a Perform at Oppenheimer, a Sector Perform at RBC Capital, an Equal Weight at Morgan Stanley, and a Neutral at Citi. 5. Tableau (DATA) initiated with a Buy at Needham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. - 01/03/18
- CHDN
01/03/18
INITIATIONTarget $40
CHDN
Buy Nightstar Therapeutics initiated with a Buy at Chardan Chardan analyst Gbola Amusa started Nightstar Therapeutics with a Buy rating and $40 price target, citing the potential for its lead asset, NSR-REP1, for the treatment of choroideremia. VYGR Voyager Therapeutics - $17.37
-0.76 (-4.19%) - 03/12/18
- EVER
03/12/18
DOWNGRADEEVER
In Line Voyager Therapeutics downgraded to In Line from Outperform at Evercore ISI - 03/12/18
- WEDB
03/12/18
DOWNGRADEWEDB
Neutral Voyager Therapeutics downgraded to Neutral from Outperform at Wedbush - 03/12/18
03/12/18
DOWNGRADETarget $29
Neutral Voyager downgraded to Neutral after Parkinson's drug data at Wedbush As previously reported, Wedbush analyst David Nierengarten downgraded Voyager Therapeutics to Neutral from Outperform, stating that data from its Phase 1 study of VY-AADC were "on the whole positive," though inconsistencies in dose response and variability in L-dopa usage "complicates" the story and raise questions on activity that could complicate the upcoming Phase 2/3 trial. However, Nierengarten raised his price target on Voyager shares to $29 from $22. - 03/12/18
On The Fly: Top five analyst downgrades Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ranger Energy (RNGR) downgraded to Market Perform from Outperform at Wells Fargo with analyst Judson Bailey saying the growth and margin improvement story he originally forecasted has come in "well below expectations along with disappointing free cash flow." 2. Voyager Therapeutics (VYGR) was downgraded to In Line from Outperform at Evercore ISI and to Neutral from Outperform at Wedbush. 3. HubSpot (HUBS) downgraded to In Line from Outperform at Evercore ISI with analyst Kirk Materne saying he is taking a "few chips off the table" and sees more balanced risk/reward at current levels. 4. XL Group (XL) downgraded to Market Perform from Outperform at JMP Securities with analyst Matthew Carletti saying that he sees low odds of a superior offer following the company's announcement of a deal to be acquired by AXA (AXAHY) for $57.60 per share in cash. 5. Blackbaud (BLKB) downgraded to Underperform from In Line at Evercore ISI with analyst Kirk Materne saying Blackbaud's valuation reflects the current cloud transition and lower tax rate and is full relative to the company's TTM organic growth rate. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. |