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CCXI

ChemoCentryx

$8.96

-2.13 (-19.21%)

, IFRX

InflaRx

$3.03

-34.1 (-91.84%)

08:28
06/06/19
06/06
08:28
06/06/19
08:28

ChemoCentryx price target lowered to $17 from $24 at Raymond James

Raymond James analyst Steven Seedhouse removed hidradenitis suppurativa from his model for ChemoCentryx (CCXI) after InflaRx (IFRX) reported that its Phase IIb trial for C5a antibody IFX-1 failed, leading him to lower his price target on the shares to $17 from $24. However, he keeps a Strong Buy rating on ChemoCentryx shares and said he would be a buyer amid the weakness, citing Phase 2 data for avacopan in AAV and a near-term Phase 3 data readout for AAV in Q4.

CCXI

ChemoCentryx

$8.96

-2.13 (-19.21%)

IFRX

InflaRx

$3.03

-34.1 (-91.84%)

CCXI ChemoCentryx
$8.96

-2.13 (-19.21%)

05/06/19
PIPR
05/06/19
NO CHANGE
Target $20
PIPR
Overweight
ChemoCentryx has underappreciated blockbuster opportunity, says Piper Jaffray
After speaking with a dermatologist who practices at a major academic hospital about the lack of effective treatments for hidradenitis suppurativa, Piper Jaffray analyst Edward Tenthoff believes ChemoCentryx has an underappreciated blockbuster opportunity in oral avocapan. The doctor emphasized drugs of minimum benefit in hidradenitis suppurativa could be used immediately, Tenthoff tells investors in a research note. He thinks believe his global sales forecast of $597M for oral avocapan in 2025 could prove conservative. The analyst reiterates an Overweight rating on ChemoCentryx with a $20 price target.
06/05/19
PIPR
06/05/19
NO CHANGE
Target $17
PIPR
Overweight
Piper Jaffray cuts ChemoCentryx target to $17 after InflaRx failure
Piper Jaffray analyst Edward Tenthoff lowered his price target for ChemoCentryx (CCRX) to $17 from $20 after its competitor InflaRx (IFRX) reported negative Phase IIb data for C5a antibody IFX-1 to treat moderate-to-severe hidradenitis suppurativa. ChemoCentryx shares are down because the company has its own small molecule avacopan targeting C5a receptor in an ongoing Phase II hidradenitis suppurativa study with data in 2020, Tenthoff tells investors in a research note. The analyst says that while nuances exist between InflaRx's IFX-1 and ChemoCentryx's avocopan for receptor coverage and distribution, the lack of dose response in InflaRx's Phase II data raises concern over the relevancy of C5a in hidradenitis suppurativa. As a result, Tenthoff removed value for avacopan in hidradenitis suppurativa in his model but remains a buyer of ChemoCentryx shares for the Phase III Advocate avacopan data in ANCA-associated vasculitis in Q4 of this year. He keeps an Overweight rating on the shares, which are down 17% to $9.18 in afternoon trading.
06/05/19
06/05/19
DOWNGRADE

Market Perform
InflaRx downgraded to Market Perform on HS study results at Raymond James
As previously reported, Raymond James analyst Steven Seedhouse downgraded InflaRx (IFRX) to Market Perform from Outperform as it is now trading below cash and thereby baking in what he believes is an appropriate value, which is zero value for hidradenitis suppurativa and risk to all follow-on indications in the pipeline for IFX-1. The analyst acknowledges that HS may not be a viable indication for C5a pathway inhibition, which seems "quite clear from InflaRx's failed study." Seedhouse adds that there is "obvious negative read-through" to Chemocyntrx (CCXI), which is running a large Phase 2 randomized study in HS for avacopan. He expects that study to at a minimum fail or maybe even be stopped early given the complete lack of signal demonstrated by IFX-1.
06/06/19
ADAM
06/06/19
NO CHANGE
Target $14
ADAM
Buy
ChemoCentryx price target lowered to $14 from $20 at Canaccord
Canaccord analyst Michelle Gilson lowered her price target on ChemoCentryx to $14 from $20 following the failure of IFX-1 failing to validate the C5a hypothesis in HS. The analyst believes AAV (associated vasculitis) remains a better indication than HS and is central to his buy thesis. Gilson maintained her Buy rating on ChemoCentryx shares.
IFRX InflaRx
$3.03

-34.1 (-91.84%)

06/05/19
FBCO
06/05/19
DOWNGRADE
Target $5
FBCO
Underperform
InflaRx downgraded to Underperform from Outperform at Credit Suisse
Credit Suisse analyst Tiago Fauth double downgraded InflaRx to Underperform from Outperform and cut his price target for the shares to $5 from $47. The stock in afternoon trading is down 91%, or $33.87, to $3.42 after the company's Phase IIb study in hidradenitis suppurativa failed to meet its endpoint.
06/05/19
RAJA
06/05/19
DOWNGRADE
RAJA
Market Perform
InflaRx downgraded to Market Perform from Outperform at Raymond James
Raymond James analyst Steven Seedhouse downgraded InflaRx to Market Perform from Outperform after the company's Phase IIb study in hidradenitis suppurativa failed to meet its endpoint. At least seven other firms have also downgraded InflaRx today following the company's report of data from its SHINE Phase IIb study.

TODAY'S FREE FLY STORIES

DOYU

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HSY

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MFGP

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$NYE

NYSE Market Internals

$0.00

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DOYU

DouYu

$0.00

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  • 17

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LEVI

Levi Strauss

$18.74

-1.07 (-5.40%)

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DOYU

DouYu

$0.00

(0.00%)

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Breaking Syndicate news story on DouYu »

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  • 17

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DOYU

DouYu

$0.00

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DOYU

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TELL

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CTK

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GWB

Great Western

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NUS

Nu Skin

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NM

Navios Maritime

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FSM

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ORN

Orion Group

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TSLA

Tesla

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ABT

Abbott

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KKR

KKR

$26.05

0.01 (0.04%)

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