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IONS

Ionis Pharmaceuticals

$63.16

0.6 (0.96%)

, RHHBY

Roche

$0.00

(0.00%)

13:49
10/15/19
10/15
13:49
10/15/19
13:49

Cantor keeps Neutral on Ionis after Roche boosts Phase 3 study size

Roche (RHHBY) disclosed yesterday that the size of the RG6042 Phase 3 trial in Huntington's increased from 660 people to 801, Cantor Fitzgerald analyst Eliana Merle tells investors in a research note. Per company comments, this is driven by high patient demand and potential to increase statistical power, particularly for the Q16W dose, adds the analyst. Merle, however, thinks investors might see this change as suggesting the Phase 3 needed more patients for sufficient powering. For her part, the analyst continues to see Huntington's as a challenging indication to study in a clinical trial setting. The higher patient number should improve the likelihood of statistical success, however, says Merle. The analyst, who believes Huntington's is the key stock focus for Ionis Pharmaceuticals investors, keeps a Neutral rating on Ionis shares with a $65 price target.

IONS

Ionis Pharmaceuticals

$63.16

0.6 (0.96%)

RHHBY

Roche

$0.00

(0.00%)

  • 04

    Nov

  • 06

    Nov

IONS Ionis Pharmaceuticals
$63.16

0.6 (0.96%)

09/10/19
BERN
09/10/19
UPGRADE
BERN
Outperform
Ionis Pharmaceuticals upgraded to Outperform from Market Perform at Bernstein
09/10/19
09/10/19
UPGRADE
Target $80

Outperform
Ionis Pharmaceuticals upgraded to Outperform at Bernstein
As previously reported, Bernstein analyst Vincent Chen upgraded Ionis Pharmaceuticals to Outperform from Market Perform and raised his price target on the shares to $80 from $70. The analyst cites lower Spinraza expectations, with further downside likely limited, and value-creating catalysts for the Huntington's program that seem not so far away. Chen recommends owning the stock going into the upcoming RG6042 OLE readout.
09/23/19
WELS
09/23/19
DOWNGRADE
Target $24
WELS
Market Perform
Akcea Therapeutics downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Jim Birchenough downgraded Akcea Therapeutics (AKCA) to Market Perform from Outperform and lowered his price target on the shares to $24 from $44 following senior management turnover and departure of the company's CEO, President and COO. While interim CEO Damien McDevitt brings significant commercial and business development expertise and familiarly with Ionis Pharmaceuticals (IONS)-sourced products, the analyst sees potential disruption to commercial build for key products TEGSEDI and WAYLIVRA stemming from departure of the architects of commercial effort. While Ionis Pharmaceuticals has committed to providing additional antisense oligonucleotide therapeutics to Akcea to commercialize, Birchenough believes the process to identify ASO candidates could take 6 months or longer, will be balanced by Ionis goal to retain its own wholly owned assets, is difficult to assess value without knowing terms and may require additional investment.
10/10/19
WELS
10/10/19
NO CHANGE
Target $120
WELS
Outperform
Ionis Pharmaceuticals price target raised to $120 from $90 at Wells Fargo
Wells Fargo analyst Jim Birchenough raised his price target for Ionis Pharmaceuticals to $120 from $90 on ASO pipeline review. While current value and near-term focus remains on approved products SPINRAZA, TEGSEDI and WAYLIVRA, as well as regular R&D revenues, the analyst believes that greater value may exist from its growing ASO pipeline. Specifically, with an estimated base value for existing Ionis product and R&D revenues of $58/share, he estimates an additional $62/share in probability adjusted pipeline value. Birchenough reiterates an Outperform rating on the shares.
RHHBY Roche
$0.00

(0.00%)

07/26/19
UBSW
07/26/19
UPGRADE
UBSW
Buy
Roche upgraded to Buy from Neutral at UBS
UBS analyst Michael Leuchten upgraded Roche to Buy from Neutral and raised his price target for the shares to CHF 300 from CHF 270. The company's legacy portfolio, built around Herceptin and Rituxan, is showing greater resilience while its "credible" neuroscience pipeline is taking shape, Leuchten tells investors in a research note. As such, he now sees Roche's business model as less challenged.
09/13/19
DBAB
09/13/19
NO CHANGE
DBAB
Hold
Novartis' ofatumumab to be 'strong' competitor to Roche drug, says Deutsche Bank
Deutsche Bank analyst Richard Parkes tells investors in a research note after attending the ECTRIMS conference in Stockholm that data from Novartis' (NVS) ASCLEPIOS trials suggests ofatumumab will be a "strong" competitor for Roche's (RHHBY) Ocrevus in relapsing/remitting multiple sclerosis. Parkes says he expects physicians to view the drugs as having broadly comparable and highly compelling efficacy, with ofatumumab's at-home dosing an attractive option for some patients, suggesting meaningful upside potential to his current 2024E ofatumumab sales of $1.1B and possible risks to his forecasts for Roche's Ocrevus. According to physician feedback, Parkes says the drugs are likely to share a rapidly growing market. Parkes maintains a Hold rating and 90 CHF price target on Novartis shares.
09/23/19
GUGG
09/23/19
UPGRADE
Target $403
GUGG
Buy
Guggenheim upgrades Regeneron to Buy, says sentiment too negative
As previously reported, Guggenheim upgraded Regeneron (REGN) to Buy from Neutral as analyst Yatin Suneja noted that Eylea has maintained its dominance in the branded anti-VEGF retinal disease market despite "stiff branded competition" from Roche's (RHHBY) Lucentis and off-label use of Roche's Avastin. Eylea's expansion into new indications has resulted in a diversified business and defensible market position, argued Suneja, who also believes the Street is substantially under-appreciating the market opportunity for Dupixent, which is expected to drive significant leverage in the Sanofi (SNY) antibody collaboration that recently became profitable. Suneja raised the price target on Regeneron shares to $403 from $355.
10/15/19
BOFA
10/15/19
NO CHANGE
BOFA
Europe 1 List changes at BofA/Merrill
BofA/Merrill added Roche (RHHBY) and Sanofi (SNY) to the Europe 1 List and removed AstraZeneca.

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ANIOY

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BPMC

Blueprint Medicines

$78.50

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TLSNY

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ARWR

Arrowhead

$67.25

1.705 (2.60%)

20:13
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ARGX

Argenx

$147.31

-2.56 (-1.71%)

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STC

Stewart

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FAF

First American

$63.05

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PFSI

PennyMac Financial

$33.91

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AGIO

Agios Pharmaceuticals

$40.93

0.81 (2.02%)

18:40
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BPMC

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$78.50

3.92 (5.26%)

18:34
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FATE

Fate Therapeutics

$13.64

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RCKT

Rocket Pharmaceuticals

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ARGX

Argenx

$147.31

-2.56 (-1.71%)

, JNJ

Johnson & Johnson

$140.36

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18:03
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JNJ

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BLUE

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QURE

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