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NITE

Nightstar Therapeutics

$25.54

0.01 (0.04%)

, BIIB

Biogen

$230.56

6.24 (2.78%)

12:07
04/25/19
04/25
12:07
04/25/19
12:07

Polygon discloses 7.97% stake in Nightstar, sends letters to board

Polygon Global Partners disclosed a 7.97% stake in Nightstar Therapeutics (NITE) in a filing that allows for activism. On April 17, UK Investment Manager, on behalf of itself and in its capacity as investment advisor to clients and accounts, including Polygon, sent a letter to Nightstar;s requesting that the company reset its timeline for the shareholders' ability to vote on the proposed acquisition by Biogen (BIIB) so that the voting record time is set for a date no earlier than May 3. On April 24, 2019, the noard sent a response to UK Investment Manager. Also on April 24, UK Investment Manager responded to the company with another letter to the board, reaffirming certain points and seeking confirmations from the board regarding the transaction and its timeline. The letter stated in part, "First, we read your letter as a commitment of the Board of Directors - having taken cognisance of our specific concerns - in the event that any material information is contained in the updated six-month data in X-linked retinitis pigmentosa to be presented by Dr. Robert Maclaren at the ARVO conference at 11:45 a.m. (New York time) on April 29, 2019 (or otherwise in advance of the shareholder meetings set for May 8, 2019), to procure an adjournment, postponement or reconvention of such meetings to ensure that shareholders and ADS holders are given sufficient time to assess such information before voting. Implicit in your response is an acknowledgment that the existing schedule would not give sufficient time in such circumstances. If we have read your letter incorrectly in these respects, please let us know."

NITE

Nightstar Therapeutics

$25.54

0.01 (0.04%)

BIIB

Biogen

$230.56

6.24 (2.78%)

  • 30

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  • 01

    May

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    May

NITE Nightstar Therapeutics
$25.54

0.01 (0.04%)

03/05/19
UBSW
03/05/19
DOWNGRADE
Target $25.5
UBSW
Neutral
Nightstar Therapeutics downgraded to Neutral from Buy at UBS
UBS analyst Carter Gould downgraded Nightstar Therapeutics (NITE) to Neutral on the announced takeover by Biogen (BIIB). The analyst raised his price target for the shares to $25.50 from $21.
03/05/19
MZHO
03/05/19
DOWNGRADE
Target $25.5
MZHO
Neutral
Nightstar Therapeutics downgraded to Neutral from Buy at Mizuho
Mizuho analyst Difei Yang downgraded Nightstar Therapeutics (NITE) to Neutral while raising her price target for the shares to $25.50 from $22. The analyst believes the takeover by Biogen (BIIB) properly values Nightstar.
03/20/19
MZHO
03/20/19
NO CHANGE
Target $416
MZHO
Buy
Biogen likely not done with gene therapy acquisitions, says Mizuho
After meeting with management, Mizuho analyst Salim Syed believes Biogen (BIIB) is not done with deals in the gene therapy space. The company continues to like the space and does not view the Nightstar Therapeutics (NITE) acquisition as fulfilling its desire to have a gene therapy platform, Syed tells investors in a research note. The analyst keeps a Buy rating on Biogen shares with a $416 price target.
03/25/19
LEHM
03/25/19
DOWNGRADE
Target $26
LEHM
Equal Weight
Nightstar Therapeutics downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Gena Wang downgraded Nightstar Therapeutics to Equal Weight from Overweight and lowered her price target for the shares to $26 from $28. The analyst cites the pending takeover by Biogen (BIIB) for the downgrade.
BIIB Biogen
$230.56

6.24 (2.78%)

04/02/19
PIPR
04/02/19
NO CHANGE
PIPR
Overweight
Piper says AAN meeting should be 'meaningful' for Alexion, Biogen
Piper Jaffray analyst Christopher Raymond reported that the American Academy of Neurology posted emerging science abstract titles this morning, adding that full abstracts are not anticipated until May 3. It appears Phase 3 data on Alexion's (ALXN) Soliris for Neuromyelitis Optica Spectrum Disorder, or NMOSD, will be presented as an emerging science abstract and that data from a Phase 1/2 study of Biogen's (BIIB) BIIB067 in SOD1 mutant ALS patients will also be presented, making the meeting potentially "meaningful" for both. Raymond keeps Overweight ratings on Alexion and Biogen.
04/10/19
RAJA
04/10/19
INITIATION
RAJA
Market Perform
Biogen resumed with a Market Perform at Raymond James
Raymond James analyst Steven Seedhouse resumed coverage of Biogen with a Market Perform rating, stating that the company's remaining business following the failure of aducanumab "appears a little fragile" and faces "existential risk" in some cases, such as the Tecfidera IPR decision due in 2020. Near-term pipeline readouts, including the nearest readouts on Vumerity and BIIB067, don't seem high-impact enough to reverse sentiment, Seedhouse tells investors.
04/11/19
BERN
04/11/19
INITIATION
Target $48
BERN
Outperform
PTC Therapeutics initiated with an Outperform at Bernstein
Bernstein analyst Vincent Chen started coverage on PTC Therapeutics (PTCT) with an Outperform rating and a $48 price target, given his positive view on the commercial potential of risdiplam in SMA. The analyst believes that there will still be a substantial market opportunity for non-gene therapy drugs after approval, and thinks risdiplam's oral dosing will be a substantial advantage over Biogen (BIIB) Spinraza's intrathecal administration. If risdiplam is safe and comparably efficacious to Spinraza, Chen forecasts potential for $2.5B in revenues by 2030.
04/24/19
PIPR
04/24/19
NO CHANGE
Target $280
PIPR
Overweight
Piper still recommends Biogen despite 'not the best' quarter
Piper Jaffray analyst Christopher Raymond continues to recommend Biogen shares following this morning's Q1 results. While the quarter was "not the best," near-term catalysts warrant staying involved, including clinical updates for BIIB067 and BIIB098 head-to-head data versus Tecfidera expected in mid-2019, Raymond tells investors in a research note. Ahead of a Q4 regulatory decision for BIIB098, the analyst continues to like the upside potential for the pipeline. He keeps an Overweight rating on Biogen with a $280 price target.

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