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AIMT

Aimmune

$31.65

0.35 (1.12%)

, GBT

Global Blood Therapeutics

$78.07

1.18 (1.53%)

05:33
12/17/19
12/17
05:33
12/17/19
05:33

Piper a buyer of Aimmune, Global Blood, Horizon into 2020 launches

Analysts at Piper Jaffray are buyers of Aimmune Therapeutics (AIMT), Global Blood Therapeutics (GBT) and Horizon Pharma (HZNP) into expected 2020 launches. Over the last five years, more launches have underperformed than outperformed, and the stock reactions have been largely proportionate to the level of under/over performance, the analysts tell investors in a research note. However, they point out that under the "somewhat rare circumstances" where performance has beaten expectations meaningfully, the stock reactions "can pay off handsomely." As such, Piper believes these three stocks can beat the "well entrenched biopharma default thesis to 'short the launch.'"

AIMT

Aimmune

$31.65

0.35 (1.12%)

GBT

Global Blood Therapeutics

$78.07

1.18 (1.53%)

HZNP

Horizon Therapeutics

$34.29

1.45 (4.42%)

  • 17

    Dec

  • 18

    Dec

  • 26

    Feb

  • 08

    Mar

AIMT Aimmune
$31.65

0.35 (1.12%)

12/16/19
SBSH
12/16/19
INITIATION
Target $14
SBSH
Buy
DBV Technologies initiated with a Buy at Citi
Citi analyst Joel Beatty initiated coverage of DBV Technologies (DBVT) with a Buy rating and $14 price target. The analyst sees a 60% probability of approval for DBV's lead agent Viaskin Peanut, a once-daily patch for peanut-allergic children. The shares have $9 upside if approved and downside to under $1 if not approved, Beatty tells investors in a research note. The analyst believes Viaskin Peanut's treatment effect has been validated by the statistically significant benefits reported from the Phase 3 primary and secondary endpoints. Further, recent publications suggest that the magnitude of benefit observed in the majority of subjects treated by Viaskin Peanut is clinically meaningful, adds the analyst. Beatty expects Viaskin Peanut to achieve a "slight majority" market share over Aimmune's (AIMT) oral competitor Palforzia and peanut sales reaching $900M-plus if approved.
12/13/19
FBCO
12/13/19
DOWNGRADE
Target $30
FBCO
Neutral
Credit Suisse downgrades Aimmune with peanut allergy approval widely expected
Credit Suisse analyst Evan Seigerman downgraded Aimmune Therapeutics to Neutral from Outperform with an unchanged price target of $30. The stock closed Thursday up 80c to $31.59. Approval of the company's peanut allergy treatment is now widely expected by investors, given the positive FDA advisory committee meeting in September, Seigerman tells investors in a research note. However, once approved, Palforzia could see commercial challenges given the new modality and required infrastructure, contends the analyst. He's "not negative" on Aimmune shares, he just believes much of the near-term upside has already been realized.
12/13/19
FBCO
12/13/19
DOWNGRADE
Target $30
FBCO
Neutral
Aimmune downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Evan Seigerman downgraded Aimmune Therapeutics to Neutral from Outperform with a $30 price target.
11/18/19
PIPR
11/18/19
NO CHANGE
Target $60
PIPR
Overweight
Piper sees 'meaningful' potential share upside into Aimmune drug launch
Piper Jaffray analyst Christopher Raymond is "increasingly comfortable" with his bullish thesis on Aimmune Therapeutics after traveling with management. The analyst says he's "much more confident" that Palforzia's launch can meaningfully outperform expectations, both near- and long-term. When coupling this with the stock's 30% short interest, Raymond likes the opportunity for "meaningful" share upside into this drug's late January expected approval and launch. He keeps an Overweight rating on Aimmune with a $60 price target.
GBT Global Blood Therapeutics
$78.07

1.18 (1.53%)

11/26/19
NOMU
11/26/19
NO CHANGE
Target $112
NOMU
Buy
Global Blood price target raised to $112 from $109 at Nomura Instinet
Nomura Instinet analyst Christopher Marai raised his price target for Global Blood Therapeutics to $112 from $109 after the FDA approved Oxbryta for the treatment of sickle cell diseases in patients age 12 and older. The approval "includes the broadest possible label," Marai tells investors in a research note. He reiterates a Buy rating on Global Blood Therapeutics.
11/26/19
OPCO
11/26/19
NO CHANGE
Target $100
OPCO
Outperform
Global Blood price target raised to $100 from $94 at Oppenheimer
Oppenheimer analyst Mark Breidenbach raised his price target for Global Blood Therapeutics to $100 from $94 after Oxbryta received accelerated approval from the FDA, three months ahead of the action date. Oxbryta represents a new class of disease-modifying therapy, and could potentially become a therapeutic mainstay in sickle cell anemia, Breidenbach tells investors in a research note. Further, Oxbryta's "best-case" label includes adults and adolescents 12 years and older, adds the analyst. He keeps an Outperform rating on Global Blood shares.
11/26/19
RHCO
11/26/19
NO CHANGE
Target $110
RHCO
Buy
Global Blood Therapeutics price target raised to $110 from $100 at SunTrust
SunTrust analyst Joon Lee raised his price target on Global Blood Therapeutics to $110 and kept his Buy rating, adjusting his model after yesterday's FDA decision to approve Oxbryta, formerly voxeltor, for SCD on an accelerated basis and "significantly" ahead of the Feb 26th PDUFA. The analyst notes that the label is "rather broad and consistent" with the trial demographics and efficacy/safety results that the company disclosed previously. Lee adds that the early approval "speaks to the significance" of the drug's value proposition in SCD.
12/10/19
PIPR
12/10/19
NO CHANGE
Target $120
PIPR
Overweight
Global Blood Therapeutics price target raised to $120 from $95 at Piper Jaffray
Piper Jaffray analyst Danielle Brill raised her price target for Global Blood Therapeutics to $120 from $95 after speaking to a sickle cell disease key opinion leader. The stock closed Monday down $4.24 to $75.11. The analyst is "increasingly confident" in Oxbryta's launch and long-term trajectory, noting that the key opinion leader expects 10%-20% of his patients will go on drug within the first year of launch. Looking out five years from now, the leader anticipates that 40%-50% of the sickle cell disease population could be on drug, Brill tells investors in a research note. As such, she's "still pounding the table" on Global Blood shares and keeps an Overweight rating on the name.
HZNP Horizon Therapeutics
$34.29

1.45 (4.42%)

12/16/19
JEFF
12/16/19
NO CHANGE
Target $40
JEFF
Buy
Horizon Pharma price target raised to $40 from $35 at Jefferies
Jefferies analyst David Steinberg increased his price target on Horizon Pharma shares to $40 from $35 after an FDA advisory committee voted 12-0 that the benefits of teprotumumab outweigh the potential risks in treating thyroid eye disease, or TED. While acknowledging that the FDA is not bound by this recommendation, Steinberg sees it as "a strong signal" for approval ahead of the drug's March 8, 2020 PDUFA action date, he tells investors. He keeps a Buy rating on Horizon shares.
12/11/19
STFL
12/11/19
NO CHANGE
Target $35
STFL
Buy
Stifel confident in positive teprotumumab panel meeting based on briefing docs
Stifel analyst Annabel Samimy said that her review of the meeting materials prepared ahead of the upcoming FDA advisory committee meeting to review Horizon Pharma's application for approval of teprotumumab give her confidence in a positive outcome on risk/benefit. The comments and questions suggest that the FDA is comfortable with the drug's efficacy and the majority of questions surround the safety profile, stated Samimy, who added that "overall, the questions are broad and not geared toward any new/specific concerns." She keeps a Buy rating and $35 price target on Horizon Pharma shares.
12/16/19
BMOC
12/16/19
NO CHANGE
Target $40
BMOC
Outperform
Horizon Pharma price target raised to $40 from $36 at BMO Capital
BMO Capital analyst Gary Nachman raised his price target on Horizon Pharma to $40 and kept his Outperform rating after the favorable unanimous FDA vote on teprotumumab. The panelists recognized the drug's "outstanding efficacy for a devastating disease with very high unmet need" and he believes the company's key marketed product Krystexxa and key pipeline product Teprotumumab will be sources of upside going forward, Nachman tells investors in a research note.
12/16/19
STFL
12/16/19
NO CHANGE
Target $40
STFL
Buy
Horizon Pharma price target raised to $40 from $35 at Stifel
Stifel analyst Annabel Samimy raised her price target for Horizon Pharma to $40 from $35 citing an FDA panel's unanimous vote recommending approval of teprotumumab. Overall, teprotumumab approval seems unquestionable, with discussions leading to a conclusion of allowing maximum access to finally give thyroid eye disease patients a real option, Samimy tells investors in a research note. She keeps a Buy rating on Horizon Pharma shares.

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