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ADVM

Adverum Biotechnologies

$5.29

0.11 (2.12%)

18:29
10/13/19
10/13
18:29
10/13/19
18:29

Adverum '022 looking like viable candidate for wet AMD, says Piper Jaffray

Commenting on Adverum Biotechnologies update at AAO, Piper Jaffray analyst Tyler Van Buren notes that zero rescue injections have been required and disease activity by OCT and visual acuity has been maintained with 6 ADVM-022 patients now out to a median of 34 weeks. Importantly, despite the intense criticism over inflammation and visual acuity fluctuations during the initial data disclosure last month, numerous KOLs at the conference were unconcerned and believe that ADVM-022 looks like a potential treatment option so far, he contends. Overall, the analyst argues that safety continues to be clean in these initial patients and looks forward to the 52-week update in first half of 2020. Van Buren reiterates an Overweight rating and $14 price target on the shares as ADVM-022 continues to look like a viable gene therapy candidate for wet AMD, which has $1B-plus potential.

ADVM Adverum Biotechnologies
$5.29

0.11 (2.12%)

08/14/19
PIPR
08/14/19
NO CHANGE
Target $14
PIPR
Overweight
Piper confident in upcoming Adverum data after management meetings
Piper Jaffray analyst Tyler Van Buren reiterates an Overweight rating on Adverum Biotechnologies with a $14 price target following meetings with management. The analyst expects to see preliminary 24-week results from the "all-important" Phase I Optic study of ADVM-022 on September 12. The results could provide proof of concept for the first intravitreal approach for the eye, "which would be monumental," Van Buren tells investors in a research note. He continues to have a "high level of confidence" in the data following his meetings with management.
08/20/19
LEER
08/20/19
UPGRADE
Target $37
LEER
Market Perform
Regenxbio upgraded to Market Perform on valuation at SVB Leerink
As previously reported, SVB Leerink analyst Mani Foroohar upgraded Regenxbio (RGNX) to Market Perform from Underperform, with a $37 price target, despite long-term headwinds. The analyst believes the current valuation balances the challenges of the company's partnership strategy and early-stage gene therapy pipeline with attractive anticipated royalty streams from Zolgensma and the competitive risk from Adverum Biotechnologies (ADVM) in wet AMD well-appreciated by investors. Nonetheless, Foroohar continues to have reservations about the long-term outlook for the company - intellectual property from the NAV platform has a finite lifetime, which self-limits royalty streams and exposes the company to litigation risk. As core patents approach expiry, the rate of new partnerships should continue to decrease, he adds.
09/13/19
RHCO
09/13/19
NO CHANGE
Target $8
RHCO
Hold
Adverum Biotechnologies price target lowered to $8 from $12 at SunTrust
SunTrust analyst Joon Lee lowered his price target on Adverum Biotechnologies to $8 and kept his Hold rating, saying his discussion with a Key Opinion Leader about the company's presentation reflected concerns about its "unconventional" treatment criteria with "zero rescue injections." The analyst adds that the expert noted 100% of the subjects experiencing some form of inflammation, as reported at The Retina Society meeting, which likely led to reduced dosing in the cohort2 of the trial.
09/17/19
CANT
09/17/19
NO CHANGE
Target $8
CANT
Neutral
Adverum Biotechnologies price target to $8 from $3 at Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young raised her price target for Adverum Biotechnologies to $8 from $3 after taking over coverage of the name. The analyst, who keeps a Neutral rating on the shares, thinks ADVM-022 showed activity in the first six patients, but is "bit more cautious" on the safety profile, particularly around inflammation. She expects investor concerns and confusion about the dataset to linger until pending further data.

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ULTA

Ulta Beauty

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AFL

Aflac

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ROST

Ross Stores

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-1.16 (-1.03%)

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RH

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PVH

PVH Corp.

$96.91

0.14 (0.14%)

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JWN

Nordstrom

$36.90

-0.52 (-1.39%)

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NKE

Nike

$89.51

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EYE

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LB

L Brands

$17.53

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BABA

Alibaba

$186.97

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ENR

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$42.01

-1.1 (-2.55%)

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MTOR

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$23.44

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DDOG

Datadog

$34.40

0.89 (2.66%)

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NKE

Nike

$89.51

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