|Over a month ago|
Portola Pharmaceuticals: CMS proposes extending NTAP for Andexxa » 08:1105/1405/14/20
Portola Pharmaceuticals announced that the U.S. Centers for Medicare & Medicaid Services has proposed extending the New Technology Add-on Payment for Andexxa [coagulation factor Xa through federal fiscal year 2021, for eligible Medicare beneficiaries treated in the inpatient hospital setting. Andexxa, first approved for use in the United States in May 2018, received its NTAP designation effective October 1, 2018.
Portola deal highlights value of PhaseBio's PB2452, says Stifel » 08:3205/0705/07/20
As previously reported,…
As previously reported, on May 5 Stifel analyst Adam Walsh reiterated a Buy rating and $14 price target on PhaseBio Pharmaceuticals (PHAS), saying that while he acknowledges the "obvious" differences between Portola's (PTLA) Andexxa and PhasBio's PB2452, he believes Alexion's (ALXN) acquisition of Portola largely for Andexxa highlights the value of PB2452. Walsh said that while Andexxa is a factor Xa reversal agent used to prevent serious bleeding in patients on factor Xa inhibitors, PB2452 is a "first-in-class" reversal agent designed for the antiplatelet drug ticagrelor. The analyst added that he thinks the Portola deal should bring attention to PhaseBio's currently "underappreciated" lead asset and the potential for value creation it holds.
B. Riley boosts CytoSorbents target, says Portola deal highlights value » 09:0605/0605/06/20
B. Riley FBR analyst…
B. Riley FBR analyst Andrew D'Silva raised the firm's price target on CytoSorbents (CSTO) to $16 from $12 and reiterates a Buy rating on the shares. The analyst believes physician awareness of the various indications that CytoSorb can treat has "materially increased and provides a significant tailwind on the other side of COVID-19." Further, yesterday's acquisition of Portola Pharmaceuticals (PTLA) highlights CytoSorbents' valuation potential, D'Silva tells investors in a research note. Portola's lead product, Andexxa is a factor Xa inhibitor reversal agent and is approved to reverse anticoagulant effects of factor Xa inhibitors rivaroxaban and apixaban. Recall, CytoSorbents recently obtained a CE Mark label expansion for CytoSorb to now include the removal of AstraZeneca's ticagrelor, a commonly used anti-platelet, during cardiopulmonary bypass, and was granted breakthrough designation by the FDA just last month, the analyst points out. He believes CytoSorb has several competitive advantages, as it hasn't been shown to result in serious adverse events.
Fly Intel: Wall Street's top stories for Tuesday » 17:0505/0505/05/20
PFE, BNTX, LB, W, HTZ, ALXN, PTLA, UBER, LYFT, AKBA, CHGG, TREX, NCLH, ITRI, UNM
The major averages were…
Portola Pharmaceuticals downgraded to Neutral from Buy at Citi » 13:5705/0505/05/20
Citi downgraded Portola…
Citi downgraded Portola Pharmaceuticals (PTLA) to Neutral from Buy after the company agreed to be acquired by Alexion (AXLN).
Jefferies sees Portola acquisition as neutral for Alexion » 13:1105/0505/05/20
Jefferies analyst Eun…
Jefferies analyst Eun Yang lowered the firm's price target on Alexion Pharmaceuticals (ALXN) to $112 from $115 and keeps a Buy rating on the shares. The stock in afternoon trading is down 5% to $98.23. Compared to its acquisition five years ago of Synageva for $8.4B, Alexion's purchase of Portola Pharmaceuticals (PTLA) at $1.4B for recently launched Andexxa potential "seems reasonable," albeit not exciting and "debatable commercial potential," Yang tells investors in a research note. On the analyst's assumed $500M in Andexxa sales in 2026, she views the deal as Neutral to Alexion.
Alexion's management deserves benefit of the doubt, says Piper Sandler » 13:0005/0505/05/20
Piper Sandler analyst…
Piper Sandler analyst Christopher Raymond retained an Overweight rating on shares of Alexion Pharmaceuticals (ALXN) despite the "lukewarm" reception to the announced acquisition of Portola (PTLA). In a research note to investors, Raymond says he thinks Alexion's management team deserves the benefit of the doubt, and despite many questions on the part of investors, thinks Alexion can derive commercial synergies between Andexxa and Soliris/Ultomiris aHUS and NMO call points.
Fly Intel: Wall Street's top stories at midday » 12:2605/0505/05/20
PFE, BNTX, LB, W, HTZ, ALXN, PTLA, AKBA, CHGG, TREX, NCLH, ITRI, UNM
The major averages are…
Portola downgraded to Market Perform from Outperform at William Blair » 11:5005/0505/05/20
William Blair analyst…
William Blair analyst Matt Phipps downgraded Portola Pharmaceuticals (PTLA) to Market Perform from Outperform after the company agreed to be acquired by Alexion (AXLN).
Unusually active option classes on open May 5th » 09:4005/0505/05/20
PTLA, GNPX, NRZ, RSX, SH, PLUG, CCJ, UNG, PFE, ATVI
Unusual total active…
Unusual total active option classes on open include: Portola Pharmaceuticals (PTLA), Genprex (GNPX), New Residential (NRZ), Market Vectors Russia (RSX), ProShares Short S&P 500 (SH), Plug Power (PLUG), Cameco (CCJ), U.S. Natural Gas Fund (UNG), Pfizer (PFE), and Activision Blizzard (ATVI).