Discovery Communications put volume heavy and directionally bearish » 15:5506/1606/16/21
Bearish flow noted in…
Bearish flow noted in Discovery Communications with 2,238 puts trading, or 1.9x expected. Most active are Jul-21 27.5 puts and Jul-21 32.5 calls, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 2.21, while ATM IV is up over 3 points on the day. Earnings are expected on August 4th.
AT&T upgraded to Sector Perform from Underperform at Scotiabank » 15:2406/1606/16/21
Scotiabank analyst Jeffrey Fan upgraded AT&T to Sector Perform from Underperform with a price target of $31, up from $28.
Altimmune price target raised to $53 from $45 at JMP Securities » 12:3806/1606/16/21
JMP Securities analyst…
JMP Securities analyst Jonathan Wolleben raised the firm's price target on Altimmune to $53 from $45 and keeps an Outperform rating on the shares, noting that the 6% placebo-adjusted body weight reduction seen in early Phase 1 data for ALT-801 doubled his expectation. Based on the data, he has raised his view on the odds of success for ALT-801 in obesity to 40% from 30%, noted Wolleben.
H.C. Wainwright says Altimmune has 'potential blockbuster indication' in obesity » 11:0006/1606/16/21
After Altimmune announced…
After Altimmune announced "positive" interim data on ALT-801 in a Phase 1 trial in overweight and obese volunteers, H.C. Wainwright analyst Patrick Trucchio noted that Altimmune remains on track to report top-line data following 12 weeks of dosing in Q3 and that it intends to file a second Investigational New Drug application in obesity to supplement its ongoing non-alcoholic steatohepatitis, or NASH, program. The analyst, who sees obesity as "a second potential blockbuster indication" for ALT-801, reiterates a Buy rating on Altimmune with a $35 price target.
Coinbase initiation, Dish upgrade among today's top calls on Wall Street » 09:5406/1606/16/21
COIN, DISH, T, AFRM, SQSP, NCLH, CCL, RCL
Check out today's top…
Altimmune weight loss data 'outstanding,' says Piper Sandler » 08:3106/1606/16/21
Piper Sandler analyst…
Piper Sandler analyst Yasmeen Rahimi says Altimmune this morning reported "outstanding" topline data from its 6-week Phase 1b study testing two doses of ALT-801 "showing best in-class activity" in weight loss with transient nausea and no rates of vomiting, diarrhea, constipation. The analyst found it outstanding to see a 5.4% weight reduction at 1.8 mg and a 1.8% reduction at 1.2 mg, compared to a 0.9% increase in weight for the placebo group. Rahimi keeps an Overweight rating on Altimmune with an $80 price target. The stock in premarket trading is up 4% to $14.72.
AppHarvest complete deal with Rabo AgriFinance to secure $75M to fuel expansion » 07:3206/1606/16/21
AppHarvest announced it…
AppHarvest announced it has completed a deal with Rabo AgriFinance, a subsidiary of Rabobank, to secure $75M to fuel expansion of its rapidly growing network of high-tech controlled environment agriculture facilities in Central Appalachia. Under the credit facility, AppHarvest has entered into a 60% loan-to-value mortgage at an anticipated fixed rate of between 4%-5% for 10 years with amortization of debt over 20 years for its flagship farm in Morehead, Kentucky, which began its first shipments of produce in January of this year. The first farm is expected to be capable of producing more than 40M pounds of tomatoes annually and currently is serving some of the top national grocery store chains and food service outlets such as Kroger and Wendy's. AppHarvest has announced that its development plan calls for a network of 12 high-tech farms by the end of 2025. The company expects to expand production next year to include leafy greens and strawberries.
Altimmune announces interim data from ALT-801 phase 1 trial » 07:1006/1606/16/21
Altimmune announced results from a prespecified 6-week interim analysis of its ongoing 12-week, Phase 1, placebo-controlled, single and multiple ascending dose trial of ALT-801, an investigational GLP-1/glucagon dual receptor agonist, in healthy overweight and obese volunteers. The study is currently being conducted in Australia under a clinical trial application. The interim data showed a mean weight loss of 5.4% was achieved by Week 6 with a once weekly ALT-801 dose of 1.8 mg administered subcutaneously, sc, compared to a weight gain of 0.9% in the placebo group, surpassing the pre-established treatment target of 2% weight loss. All but one subject who received the 1.8 mg sc dose achieved at least 3% weight loss by Week 6. A lower dose cohort that received a weekly 1.2 mg sc dose achieved a mean weight loss of 1.8% at the same time point. ALT-801 was well-tolerated without dose titration, with transient nausea rates of 14.3% at the 1.2 mg dose and 22.2% at the 1.8 mg dose, and no reports of vomiting, diarrhea or constipation at either dose. All nausea events at the 1.8 mg dose were mild in severity. Because the recruited study population was young and non-diabetic, the proportion of subjects with MRI-PDFF greater than 10% was insufficient to perform an analysis of liver fat reduction in this population. Consequently, the company plans to expand the enrollment criteria and conduct a separate 12-week Phase 1b study of diabetic and non-diabetic subjects with non-alcoholic fatty liver disease in the United States, which is anticipated to commence in Q3 2021, and to initiate a 52-week biopsy-driven NASH trial in Q1 2022. The ALT-801 Phase 1 trial is currently progressing through higher dose cohorts, and the company plans to report the results following 12-weeks of dosing in Q3 2021. Based on these latest results, Altimmune now plans to file a second IND in obesity in Q3 2021 to supplement its ongoing NASH program.
AppHarvest initiated with an Overweight at Barclays » 05:5406/1606/16/21
Barclays analyst Benjamin…
Barclays analyst Benjamin Theurer initiated coverage of AppHarvest with an Overweight rating and $25 price target. AppHarvest via its special purpose acquisition company deal, raised sufficient capital to pursue its first three years of expansion, Theurer tells investors in a research note. The analyst models four year annual revenue growth of 103% and finds the shares attractively valued. There's "plenty of space available to meet the need to build high-tech greenhouses," says Theurer.
European Hematology Association to hold virtual meeting » 04:5506/1606/16/21
APTO, MBIO, QURE, RIGL, MGTA, MEIP, CRIS, XLRN, EPZM, INCY, ORTX, TGTX, EQ, JAZZ, VRTX, SGEN, IMRA, GBT, BGNE, APLS, AGIO, FMTX, KROS, CYAD, ALXN
EHA 2021 Virtual Congress…
EHA 2021 Virtual Congress to be held on June 9-17. Webcast Link