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GBT

Global Blood Therapeutics

$46.75

0.25 (0.54%)

, SAGE

Sage Therapeutics

$147.07

1.42 (0.97%)

10:17
08/06/18
08/06
10:17
08/06/18
10:17

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Global Blood Therapeutics (GBT) initiated with an Overweight at Piper Jaffray. 2. Welltower (WELL) reinstated with a Neutral at Goldman Sachs. 3. Sage Therapeutics (SAGE) initiated with an Overweight at Piper Jaffray. 4. SoftBank (SFTBY) initiated with a Buy at UBS. 5. Alder Biopharmaceuticals (ALDR) initiated with an Overweight at Piper Jaffray. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

GBT

Global Blood Therapeutics

$46.75

0.25 (0.54%)

SAGE

Sage Therapeutics

$147.07

1.42 (0.97%)

ALDR

Alder Biopharmaceuticals

$19.65

0.65 (3.42%)

SFTBY

SoftBank; also use SFTBF

$0.00

(0.00%)

WELL

Welltower

$63.60

0.15 (0.24%)

  • 07

    Aug

  • 07

    Aug

  • 14

    Aug

  • 10

    Sep

GBT Global Blood Therapeutics
$46.75

0.25 (0.54%)

08/06/18
PIPR
08/06/18
INITIATION
Target $80
PIPR
Overweight
Global Blood Therapeutics initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Danielle Brill started Global Blood Therapeutics with an Overweight rating and $80 price target. The analyst believes Global Blood is on track for accelerated approval of drug voxelotor for the treatment of sickle cell disease. She notes the stock is down 40% from announcement of breakthrough therapy designation in January amid skepticism from investors due to the shift in development strategy following initial Phase 3 data. The analyst believes, however, that the FDA will be supportive of the proposed hemoglobin endpoint and accelerated approval pathway.
06/27/18
06/27/18
NO CHANGE
Target $125

Buy
Global Blood thesis 'no longer relying on just hope,' says H.C. Wainwright
As previously reported, H.C. Wainwright analyst Debjit Chattopadhyay raised his price target on Global Blood Therapeutics shares to $125 from $73, telling investors that after the company unveiled the HOPE Part A data the voxelator investment thesis is "no longer relying on just hope." The early data hit his "homerun situation" on the primary endpoint, with a dose-dependent and statistically-significant increase in hemoglobin, Chattopadhyay stated. Bears are likely to argue about whether the data are sufficient to convince the FDA to grant an early approval, but that "pales in comparison" to the actual clinical benefit, added the analyst, who raised his peak global sales estimate for voxelator to about $2.3B from a prior view of $1.6B. He maintains a Buy rating on Global Blood shares.
06/27/18
HCWC
06/27/18
NO CHANGE
Target $125
HCWC
Buy
Global Blood price target raised to $125 from $73 at H.C. Wainwright
08/06/18
RHCO
08/06/18
NO CHANGE
Target $70
RHCO
Buy
Global Blood Therapeutics price target lowered to $70 from $77 at SunTrust
SunTrust analyst Yatin Suneja lowered his price target on Global Blood Therapeutics to $70 after its Q2 results, citing his model adjustments to reflect the company's spending rate and reduced probability of success for its GBT440 program in sickle cell disease to 65% from 75%. The analyst keeps his Buy rating on Global Blood Therapeutics and still considers its GBT440 phase 2 data positively, adding that the "first drug to address the underlying cause of disease" could achieve over $2B in peak sales.
SAGE Sage Therapeutics
$147.07

1.42 (0.97%)

06/06/18
LTCO
06/06/18
INITIATION
Target $230
LTCO
Buy
Sage Therapeutics initiated with a Buy at Ladenburg
Ladenburg Thalmann analyst Michael Higgins started Sage Therapeutics with a Buy rating and $230 price target.
06/13/18
JEFF
06/13/18
NO CHANGE
Target $9
JEFF
Buy
Sage update yesterday positive for Xenon, says Jefferies
Jefferies analyst Maury Raycroft believes Sage Therapeutics' (SAGE) FDA approval to accelerate a development path for '217 in major depressive disorder and postpartum depression provides a positive read-through for Xenon Pharmaceuticals (XENE). Xenon has two epilepsy programs and one program for hemiplegic migraine, which all have potential in rare disease indications with broader applicability, Raycroft tells investors in a research note. He believes "recent derisking" provides a "great entry point" into Xenon Pharmaceuticals at current share levels. The analyst has a Buy rating on the shares with a $9 price target.
08/06/18
PIPR
08/06/18
INITIATION
Target $206
PIPR
Overweight
Sage Therapeutics initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Danielle Brill started Sage Therapeutics with an Overweight rating and $206 price target. The analyst thinks Sage is on course to becoming a leader in central nervous system therapeutics. Its lead compound, IV brexanolone, is on track to becoming the first FDA approved therapy for postpartum depression by the end of 2018, Brill tells investors in a research note.
06/13/18
ADAM
06/13/18
NO CHANGE
Target $220
ADAM
Buy
Sage Therapeutics price target raised to $220 from $210 at Canaccord
Canaccord analyst Sumant Kulkarni raised his price target on Sage Therapeutics to $220 from $210 after the company announced it had a positive breakthrough meeting with the FDA on Sage-217, an oral drug being developed for postpartum depression, major depressive disorder and other psychiatric indications. Kulkarni believes the MDD indication is the main stock driver and he views the developments as very encouraging. Kulkarni reiterated his Buy rating on Sage shares.
ALDR Alder Biopharmaceuticals
$19.65

0.65 (3.42%)

06/27/18
NEED
06/27/18
INITIATION
Target $28
NEED
Buy
Alder Biopharmaceuticals assumed with a Buy at Needham
Needham analyst Serge Belanger assumed Alder Biopharmaceuticals with a Buy rating and a price target of $28, saying the company is positioned as a "rare pure-play migraine story". Belanger cites the positive pivotal phase 3 trial data for its Eptinezumab drug where it met all the endpoints and demonstrated an efficacy profile relative to competitive treatments. The analyst believes that Eptinezumab will appeal to "most severe of migraine patients where it will generate blockbuster-level sales" of over $1B.
08/06/18
PIPR
08/06/18
INITIATION
Target $28
PIPR
Overweight
Alder Biopharmaceuticals initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Danielle Brill started Alder Biopharmaceuticals with an Overweight rating and $28 price target. Alder is undervalued despite having a "late-stage, de-risked, and differentiated" asset that addresses the large, under-served migraine population, Brill tells investors in a research note. The analyst finds the stock "very attractive at current levels."
06/12/18
LEER
06/12/18
NO CHANGE
LEER
Too early to see Allergan's atogepant threatening injectables, says Leerink
Leerink analyst Geoffrey Porges notes that Allergan (AGN) announced positive topline data from a phase IIb/III trial of oral CGRP receptor antagonist atogepant in episodic migraine prevention. The analyst believes this data is certainly positive for Allergan and suggests they may eventually have an oral CGRP medicine approval for both acute and preventative treatment of migraines, However, Porges awaits further data disclosure and larger patient numbers to be convinced about comparing the efficacy of atogepant to the more advanced injectable CGRP medicines in development. With regard to Amgen (AMGN) and Alder (ALDR), who both have injectable CGRP antibodies for migraine prevention, potential competitive erosion from orals is still several years away and he continues to see the more severe chronic migraine population as being a more meaningful commercial opportunity for this class.
06/11/18
WELS
06/11/18
NO CHANGE
Target $240
WELS
Outperform
Allergan migraine data on lower end of relative efficiency, says Wells Fargo
Wells Fargo analyst David Maris says his initial review suggests Allergan's (AGN) atogepant's Phase IIb data are "relatively in-line but on the lower end of the efficacy" demonstrated by the calcitonin gene-related peptide migraine treatments in Phase III trials. Atogepant is expected to face competition from Amgen (AMGN)/Novartis (NVS), Eli Lilly (LLY) and Teva (TEVA), which are all developing injectable anti-CGRP treatments, as well as Alder Biopharmaceuticals (ALDR), which has an infusion-administered anti-CGRP in development, Maris tells investors in a research note. He notes that while Allergan will be following these competitors to the market, atogepant will be differentiated in that it is the only oral prophylactic anti-CGRP therapy. The analyst forecasts $75M in sales for atogepant in 2022. He does not believe many investors are giving Allergan credit for atogepant, meaning the "risk to the downside looks limited." Maris keeps an Outperform rating on Allergan shares.
SFTBY SoftBank; also use SFTBF
$0.00

(0.00%)

08/16/17
SBSH
08/16/17
NO CHANGE
SBSH
Citi still views Sprint, T-Mobile merger as most likely
Citi analysts Michael Rollins and Jason Bazinet continue to expect 2017 to be the year of mergers and acquisitions in the Wireless space. Since attending SoftBank's (SFTBY) Q2 Investor event and meeting with T-Mobile US (TMUS) management, the analysts still view a merger scenario between Sprint (S) and T-Mobile as the most likely to emerge in the Wireless space. "We are getting the increasing sense from multiple companies in the category that the regulatory environment may be as good as it gets," Rollins and Bazinet write in a research note.
08/06/18
UBSW
08/06/18
INITIATION
UBSW
Buy
SoftBank initiated with a Buy at UBS
UBS analyst Kei Takahashi started SoftBank Group with a Buy rating and 12,900 yen price target. The stock is still trading at a discount relative to the company's asset holdings, Takahashi tells investors in a research note. The analyst sees potential share upside of 40%.
06/01/18
JPMS
06/01/18
NO CHANGE
Target $58
JPMS
Overweight
General Motors price target raised to $58 from $55 at JPMorgan
JPMorgan analyst Ryan Brinkman raised his price target for General Motors (GM) to $58 saying the $2.25B investment by SoftBank (SFTBY) in the company's Cruise autonomous mobility business is "positive on a number of fronts." The investment "puts a stake in the ground relative to the value of Cruise" and shows "just how inexpensive GM's core automotive operations really are," Brinkman tells investors in a research note. The analyst sees 36% upside in shares of GM and reiterates an Overweight rating on the name.
11/06/17
SBSH
11/06/17
NO CHANGE
Target $75
SBSH
Buy
Citi trims T-Mobile, Sprint targets after merger talks cease
Citi analyst Michael Rollins lowered his price target for Buy-rated T-Mobile (TMUS) to $75 from $77 and for Neutral-rated Sprint (S) to $7.50 from $9.00 after the companies ceased talks to merge. He sees T-Mobile as "very comfortable" with its operating momentum and improving financial position and SoftBank (SFTBY) and Sprint (S) taking a more aggressive posture to pursue strategic partners. The analyst would not be surprised if SoftBank and Deutsche Telekom (DTEGY) revisit the merger talks in 6-12 months should Sprint and T-Mobile not find compelling strategic partners. Further, Rollins expects tower stocks like American Tower (AMT), SBA Communications (SBAC) and Crown Castle (CCI) to trade higher on expectations for greater capital expenditures now that the merger talks are over.
WELL Welltower
$63.60

0.15 (0.24%)

07/31/18
RHCO
07/31/18
NO CHANGE
Target $64
RHCO
Hold
Welltower price target raised to $64 from $58 at SunTrust
SunTrust analyst Eric Fleming raised his price target on Welltower to $64 after the company's "steady" Q2 results showing "portfolio positioning for long-term growth". The analyst cites the company's targeting of post-acute segment assets but also keeps his Hold rating, opting to await more clear signs of "traction in these activities" and improvement in the overall operating environment.
07/29/18
MUFG
07/29/18
NO CHANGE
Target $68
MUFG
Overweight
MUFG sees 'solid' Q2 for Welltower despite persistent near-term challenges
MUFG analyst Karin Ford says that despite persistent near-term challenges for senior housing, she believes that Q2 was a "solid" quarter for Welltower and that the company is well-positioned for growth in 2019. The analyst reiterates an Overweight rating and $68 price target on the stock.
08/01/18
SPHN
08/01/18
NO CHANGE
Target $10
SPHN
Overweight
Capital Senior Living results 'disappointing, but not surprising,' says Stephens
Stephens analyst Dana Hambly said Capital Senior Living's (CSU) Q2 results are "clearly disappointing, but not surprising" given results from Welltower (WELL) and Ventas (VTR). Capital Senior Living's roughly 20% reduction in CFFO was worse than feared and indicates revenue growth will be challenged for the duration of 2018, added Hambly, who lowered his price target on the stock to $10 from $16. However, he chooses to "hold out hope" that its outlook reduction establishes a baseline from which the company can grow and he keeps an Overweight rating on Capital Senior shares.
08/06/18
GSCO
08/06/18
INITIATION
Target $59
GSCO
Neutral
Welltower reinstated with a Neutral at Goldman Sachs
Goldman Sachs analyst Andrew Rosivach reinstated Welltower with a Neutral and $59 price target citing elevated pressures on senior housing including supply and margin concerns.

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