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WVE

Wave Life Sciences

$26.00

1.46 (5.95%)

, BMRN

BioMarin

$82.34

-6.17 (-6.97%)

05:42
04/18/19
04/18
05:42
04/18/19
05:42

Mizuho defends Wave Life Sciences, says suvodirsen not drisapersen

Mizuho analyst Salim Syed yesterday afternoon came out "defending" shares of Wave Life Sciences (WVE) following the recent selloff. The reaction has been based on false logic, primarily equating Wave Life's suvodirsen to BioMarin's (BMRN) failed drisapersen, Syed told investors in a research note. Suvodirsen "is NOT" drisapersen and the lower suvodirsen Phase 2/3 dosing versus drisapersen's "does not necessarily imply a lesser or even similar dystrophin expression," Syed wrote. Further, the Phase 2/3 dosing "was selected rationally, seems within the therapeutic window, and is likely favorable to current standard of care," he contends. The analyst adds that the Phase 1 safety data "was still generally clean." Syed keeps a Buy rating on Wave Life Sciences with a $65 price target.

WVE

Wave Life Sciences

$26.00

1.46 (5.95%)

BMRN

BioMarin

$82.34

-6.17 (-6.97%)

  • 25

    Apr

WVE Wave Life Sciences
$26.00

1.46 (5.95%)

04/16/19
MZHO
04/16/19
NO CHANGE
Target $65
MZHO
Buy
Safety data from Wave Life's Exon-51 SAD DMD trial seems reasonably clean, says Mizuho
Mizuho analyst Salim Syed notes that Wave Life Sciences disclosed safety data from its Phase 1 Exon-51 SAD DMD trial, and based on this Phase 1 trial and preclinical work, the company has selected two doses to move forward into its Phase 2/3 trial, 3mg/kg and 4.5mg/kg. The analyst believes the safety data seems "reasonably clean," and that the Street should be not be getting hung up on the reported adverse events. Syed reiterates a Buy rating and $65 price target on the shares.
04/16/19
STFL
04/16/19
DOWNGRADE
STFL
Hold
Wave Life Sciences downgraded to Hold from Buy at Stifel
04/16/19
04/16/19
DOWNGRADE

Hold
Wave Life Sciences downgraded to Hold from Buy at Stifel
As previously reported, Stifel analyst Paul Matteis downgraded Wave Life Sciences to Hold from Buy, and reduced his target price on shares to $26 from $53. The analyst believes the company's Duchenne muscular dystrophy, or DMD, update from this morning "raises concerns around suvodirsen and more broadly, the degree to which leveraging stereochemistry will lead to a differentiated ASO-based medicines." While Matteis still sees Huntington's disease as a potential source of upside for the stock, the "recent delay -- especially in light of the DMD update this morning -- has reduced [the analyst's] level of conviction in Wave management's execution and the bull-case on its platform/technology."
04/17/19
HCWC
04/17/19
NO CHANGE
Target $33
HCWC
Buy
Wave Life Sciences price target lowered to $33 from $49 at H.C. Wainwright
H.C. Wainwright analyst Debjit Chattopadhyay lowered his price target for Wave Life Sciences to $33 from $49 following the first look at the company's stereopure isomer platform with a preliminary read on safety and dose for the planned Phase 2/3 program from patients amenable to exon 51 skipping. The analyst believes Wave has a "lot to prove" with limited near-term catalysts. Nonetheless, he keeps a Buy rating on the stock.
BMRN BioMarin
$82.34

-6.17 (-6.97%)

02/25/19
FBCO
02/25/19
NO CHANGE
Target $47
FBCO
Neutral
Roche may spark another bull run for gene therapy names, says Credit Suisse
Credit Suisse analyst Martin Auster notes that the Wall Street Journal recently reported that Roche (RHHBY) is nearing a deal with Spark Therapeutics (ONCE) for $5B. The analyst believes the transaction value implies the re-emergence of Spark's hemophilia A gene therapy program with a competitive profile and substantial value assigned to additional pipeline programs, such as SPK-3006 for Pompe, and the technology platform. Spark's acquisition would further strengthen the company's position in the hemophilia space, he contends. Further, Auster argues that the deal may increase M&A interest among other gene therapy names in his coverage universe, which include BioMarin (BMRN), Sarepta (SRPT), Ultragenyx (RARE), PTC (PTC) and Solid Biosciences (SLDB). He sees particularly strong read-through to Sarepta. The analyst reiterates a Neutral rating and a $47 price target on Spark's shares.
03/04/19
CANT
03/04/19
NO CHANGE
Target $131
CANT
Overweight
BioMarin price target raised to $131 from $126 at Cantor Fitzgerald
Cantor Fitzgerald analyst Eliana Merle raised her price target for BioMarin Pharmaceutical to $131 to reflect Friday's positive Committee for Medicinal Products for Human Use opinion on Palynziq. The analyst thinks the approval is supportive of base business revenue growth, and she models worldwide Palynziq sales of $900M. She keeps an Overweight rating on BioMarin.
04/09/19
RAJA
04/09/19
INITIATION
RAJA
Outperform
BioMarin resumed with an Outperform at Raymond James
Raymond James analyst Reni Benjamin resumed coverage on BioMarin with an Outperform and $110 price target. The analyst said baseline ultra-orphan business is on tract to generate $2.1B by 2024, key read-outs are expected in mid-2019 for its leading Hemophilia A gene therapy asset, and the current pipeline of seven revenue generating products, which could become nine by 2020, are modeled to generate $3.3B in sales by 2024.
04/18/19
PIPR
04/18/19
NO CHANGE
Target $120
PIPR
Overweight
BioMarin bear thesis on Valrox 'does not hold water,' says Piper Jaffray
After hosting a dinner with management, Piper Jaffray analyst Christopher Raymond keeps an Overweight rating on BioMarin with a $120 price target. The bear thesis on the June 6 Valrox Phase 2 year three update readout "simply does not hold water," Raymond tells investors in a research note titled "Everyone Just Take a Breath; Remain Confident in Valrox After Management Dinner." The bear thesis centers around management seeing regular updates to the data, but the company took pains to explain the blinding protocols in place and insist it has been blinded since the two year update, says the analyst. He believes management and remains a buyer of BioMarin shares. Raymond sees the controversy around the data as a "bit of a tempest in a teapot," and he urges investors to "stay the course."

TODAY'S FREE FLY STORIES

GPS

Gap

$16.66

-0.36 (-2.12%)

10:55
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Gap put volume heavy and directionally bearish »

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10:55
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Federal Reserve Bank of New York president participates in a discussion »

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SPT

Sprout Social

$0.00

(0.00%)

10:52
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Syndicate
Sprout Social indicated to open at $19.25, IPO priced at $17.00 »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$317.49

0.35 (0.11%)

10:47
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General news
U.S. Trade Representative says Phase One trade deal with China 'enforceable' »

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0.35 (0.11%)

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UNH

UnitedHealth

$286.83

3.03 (1.07%)

10:45
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Options
UnitedHealth call volume above normal and directionally bullish »

Bullish option flow…

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10:45
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General news
Breaking General news story  »

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ALG

Alamo Group

$117.70

0.51 (0.44%)

10:43
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Conference/Events
Alamo Group management to meet with Sidoti »

Meetings to be held in…

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ABT

Abbott

$86.48

0.5 (0.58%)

10:40
12/13/19
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10:40
Hot Stocks
Abbott raises quarterly dividend 12.5% to 36c per share »

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EXPO

Exponent

$65.46

-0.62 (-0.94%)

10:37
12/13/19
12/13
10:37
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10:37
Conference/Events
Exponent management to meet with Sidoti »

Meeting to be held in…

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  • 18

    Dec

FLWS

1-800-Flowers.com

$13.56

0.29 (2.19%)

10:35
12/13/19
12/13
10:35
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10:35
Conference/Events
1-800-Flowers.com management to meet with Sidoti »

Meeting to be held in…

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  • 18

    Dec

FFIV

F5 Networks

$142.79

-0.84 (-0.58%)

10:35
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12/13
10:35
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10:35
Periodicals
Police raid Moscow office of F5 Networks' NGINX, ZDNet reports »

On Thursday, police…

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SPPI

Spectrum

$8.89

0.21 (2.42%)

10:35
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12/13
10:35
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10:35
Options
Spectrum put volume heavy and directionally bearish »

Bearish flow noted in…

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SRPT

Sarepta

$133.61

33.22 (33.09%)

10:34
12/13/19
12/13
10:34
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10:34
On The Fly
Sarepta jumps as analysts react to 'surprise' FDA reversal on Vyondys53 »

Shares of Sarepta…

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GPS

Gap

$17.02

(0.00%)

10:32
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Gap's Old Navy unit teams up with Postmates for on-demand gift delivery »

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10:30
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General news
Treasury Action: yields remain lower, led by the front end, amid a lack of clarity »

Treasury Action: yields…

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The October U.S. business inventory report tracked estimates »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$317.78

0.64 (0.20%)

10:29
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General news
Breaking General news story on S&P 500, SPDR S&P 500 ETF Trust »

Trump says Phase Two…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$317.78

0.64 (0.20%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$318.00

0.86 (0.27%)

10:29
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General news
Breaking General news story on S&P 500, SPDR S&P 500 ETF Trust »

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$0.00

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SPDR S&P 500 ETF Trust

$318.00

0.86 (0.27%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$318.23

1.09 (0.34%)

10:27
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General news
Trump says Dec. 15 tariffs will not be charged due to phase one deal »

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$0.00

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SPDR S&P 500 ETF Trust

$318.23

1.09 (0.34%)

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AMRN

Amarin

$23.91

0.91 (3.96%)

10:25
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12/13
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Options
Amarin call volume above normal and directionally bullish »

Bullish option flow…

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  • 28

    Dec

MSFT

Microsoft

$154.18

0.95 (0.62%)

10:25
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Hot Stocks
Microsoft unveils Xbox Series X, available Holiday 2020 »

Microsoft announced that…

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10:25
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General news
FX Action: USD-JPY »

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Conference/Events
JPMorgan media analyst to hold an analyst/industry conference call »

Media Analyst Quadrani…

QSR

Restaurant Brands

$66.41

-0.105 (-0.16%)

, PZZA

Papa John's

$60.62

0.15 (0.25%)

10:19
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$66.41

-0.105 (-0.16%)

PZZA

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$60.62

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COP

ConocoPhillips

$63.35

0.77 (1.23%)

VIAC

ViacomCBS

$38.42

0.63 (1.67%)

SAFM

Sanderson Farms

$167.90

1.24 (0.74%)

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  • 18

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