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GILD

Gilead

$64.82

-0.33 (-0.51%)

, SRRK

Scholar Rock

$22.67

-2.41 (-9.61%)

08:04
12/19/18
12/19
08:04
12/19/18
08:04

Gilead and Scholar Rock collaborating in fibrotic disease therapies

Gilead (GILD) and Scholar Rock (SRRK) have entered into a strategic collaboration to discover and develop highly specific inhibitors of transforming growth factor beta activation for the treatment of fibrotic diseases. Under the collaboration, Gilead has exclusive options to license worldwide rights to product candidates that emerge from three Scholar Rock TGFbeta programs: inhibitors that target activation of latent TGFbeta1 with high affinity and specificity, inhibitors that selectively target activation of latent TGFbeta1 localized to extracellular matrix, and a third TGFbeta discovery program. Scholar Rock is responsible for antibody discovery and preclinical research through product candidate nomination, after which, upon exercising the option for a program, Gilead will be responsible for the program's preclinical and clinical development and commercialization. Scholar Rock retains exclusive worldwide rights to discover, develop, and commercialize certain TGFbeta inhibitors for oncology and cancer immunotherapy. Scholar Rock will receive $80M in upfront payments, comprised of $50M cash and $30M purchase of Scholar Rock common stock. In addition, Scholar Rock will receive a one-time milestone payment of $25M upon the successful completion of specific preclinical studies and be eligible to receive up to an additional $1,425M in potential payments aggregated across all three programs based on the successful achievement of certain research, development, regulatory and commercialization milestones. Scholar Rock would also receive high single-digit to low double-digit tiered royalties on sales of potential future products originating from the collaboration.

GILD

Gilead

$64.82

-0.33 (-0.51%)

SRRK

Scholar Rock

$22.67

-2.41 (-9.61%)

GILD Gilead
$64.82

-0.33 (-0.51%)

12/19/18
CANT
12/19/18
NO CHANGE
Target $92
CANT
Overweight
Gilead price target raised to $92 from $88 at Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young raised her price target for Gilead Sciences (GILD) to $92 after her firm increased its peak 2027 filgotinib sales estimate from $2.75B to $4.0B. Gilead books revenues in the U.S. and ~20% of sales are outside the U.S., so filgotinib is a key pipeline product not only for Galapagos NV (GLPG), but also for Gilead, Young tells investors in a research note. She reiterates an Overweight rating on the shares.
12/17/18
GUGG
12/17/18
INITIATION
Target $86
GUGG
Buy
Gilead resumed with a Buy at Guggenheim
Guggenheim analyst Whitney Ijem resumed coverage of Gilead Sciences with a Buy rating and $86 price target. With management uncertainty "now moving into the rearview mirror," the analyst likes the shares heading into 2019. She thinks Gilead's base business is positioned well and points out the company has several Phase 3 data readouts next year. Ijem calls Selonsertib a "coin-flip" but believes filgotinib data is likely to be positive.
12/10/18
JEFF
12/10/18
NO CHANGE
Target $95
JEFF
Buy
Gilead new CEO makes shares 'more ownable,' says Jefferies
Jefferies analyst Michael Yee views the hiring of Daniel O'Day as a "positive incremental step" which helps make shares of Gilead Sciences "more ownable for investors." The hire will help transition current Gilead into the new Gilead for 2019-2021, including stabilizing legacy businesses, deploying the balance sheet, and entering new markets, Yee tells investors in a research note. He keeps a Buy rating on the shares with a $95 price target.
12/10/18
CANT
12/10/18
NO CHANGE
Target $88
CANT
Overweight
Gilead landing Daniel O'Day is a positive, says Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young views the appointment of Daniel O'Day as a positive for Gilead Sciences. One of the biggest overhangs for Gilead has been around who would be the next CEO and what that might signal around the company's strategy,.Young tells investors in a research note. She would expect the market to view this appointment positively, "since it gives clarity around one of the most important questions around building a Gilead thesis." The company is appointing a leader that will focus on product pipeline diversification and commercial growth, Young contends. She keeps an Overweight rating on Gilead with an $88 price target.
SRRK Scholar Rock
$22.67

-2.41 (-9.61%)

06/18/18
COWN
06/18/18
INITIATION
Target $18
COWN
Outperform
Scholar Rock initiated with an Outperform at Cowen
Cowen analyst Ritu Baral initiated Scholar Rock with an Outperform rating as she believes its lead product, SRK-015, which is a myostatin activation inhibitor in development for SMA type 2 and 3, has significant clinical promise with peak potential U.S. sales of $1.6B. Baral has an $18 price target on Scholar Rock shares.
06/18/18
JEFF
06/18/18
INITIATION
Target $26
JEFF
Buy
Scholar Rock initiated with a Buy at Jefferies
Jefferies analyst Michael Yee started Scholar Rock with a Buy rating and $26 price target. Similar to other orphan drug stories, early data could offer 50%-plus upside into 2019 if they show early benefit in spinal muscular atrophy patients, Yee tells investors in a research note.
06/18/18
BMOC
06/18/18
INITIATION
Target $31
BMOC
Outperform
Scholar Rock initiated with an Outperform at BMO Capital
BMO Capital analyst Do Kim initiated Scholar Rock with an Outperform rating and a price target of $31, citing his expectations of its proprietary research platform answering the challenges of modulating transforming growth factor beta signaling pathways. The analyst adds that the company's SRK-015 program has "properly aligned the drug's specific benefit to an ideal disease setting" and expects the Phase 1 data in Q4 to confirm its safety and PK/PD profile, with eventual proof-of-concept data coming in the second half of 2019.
06/18/18
WEDB
06/18/18
INITIATION
Target $25
WEDB
Outperform
Scholar Rock initiated with an Outperform at Wedbush
Wedbush analyst David Nierengarten started Scholar Rock with an Outperform rating and $25 price target saying it is taking a unique approach to inhibiting TGF beta, a key class of interest for drug developers but one considered too difficult to drug with specificity, by locking the proteins in their latent state. This strategy, and supportive preclinical data, give him confidence that the company's programs could be the first to safely shut down TGF beta signaling in a targeted manner, with application in several serious disorders.

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