Abeona Therapeutics initiated with a Buy at Seaport Global. Seaport Global analyst Vernon Bernardino initiated Abeona Therapeutics with a Buy and $29 price target saying its “powerful” R&D engine leverages AAV vector technology to create gene therapies for rare diseases. Bernardino said Abeona has generated six candidate gene therapies, including three in Phase 1/2 clinical trials, and has first-mover potential in each targeted therapeutic area plus premium pricing potential for its products.
Tuesday, June 5, 2018
Sarepta new gene therapy unit positive: Nomura
Nomura Instinet positive on Dr. Rodino-Klapac joining Sarepta. Nomura Instinet analyst Christopher Marai views the appointment of Dr. Rodino-Klapac as Sarepta Therapeutics’ Vice President of a newly created gene-therapy unit positively. The news further indicates that Sarepta is broadly expanding its gene therapy program in neuromuscular diseases, Marai tells investors in a research note. He reiterates a Buy rating on the shares with a $131 price target.
Halyard Health to acquire CoolSystems for $65M in cash
Halyard Health announced it has entered into a definitive agreement to acquire CoolSystems, marketed as Game Ready, a market-leading provider of cold therapy and compression therapy systems for a total consideration of $65M in cash. Game Ready’s revenues in 2017 were approximately $35 million. The transaction is expected to be immaterial to Halyard’s fiscal year 2018 adjusted dilutive net earnings per share, and slightly accretive to earnings in 2019. Halyard is reaffirming its 2018 adjusted dilutive net earnings per share guidance of $1.65 to $1.85, which includes earnings from both continuing and discontinued operations. Halyard intends to fund the acquisition from current cash and the transaction is expected to close early in the third quarter.
Viking completes enrollment for Phase 2 of liver med trial
Viking Therapeutics announced that enrollment has been completed in the company’s ongoing Phase 2 clinical trial of VK2809 in patients with primary hypercholesterolemia and non-alcoholic fatty liver disease. VK2809 is a novel, orally available small molecule thyroid receptor agonist that possesses selectivity for liver tissue, as well as the beta receptor subtype, suggesting promise in this patient population. The Phase 2 clinical trial is a randomized, double-blind, placebo-controlled, parallel-group study designed to evaluate the efficacy, safety and tolerability of VK2809 in patients with elevated LDL cholesterol and NAFLD.
Teladoc target hiked by Citi
Teladoc price target raised to $62 from $51 at Citi. Citi analyst Stephanie Demko raised her price target for Teladoc to $62 and reiterates a Buy rating on the shares following the company’s acquisition of Advance Medical. The analyst views the purchase price as reasonable. The acquisition makes Teladoc the sole global telehealth player while also expanding the company’s telehealth solution suite into home care, wellness, and chronic care, Demko investors in a research note.
Nektar continues promising: Canaccord
Nektar data suggests it could play pivotal role in cancer, says Canaccord. Canaccord analyst Arlinda Lee said data for Nektar’s NKTR-214+Opdivo continues to show promise and she believes it is indicative of having a central role in cancer therapy with its broad mechanism of expanding and activating T-effector cells and efficacy. She reiterated her Buy rating and $94 price target on Nektar shares, which fell nearly 42% to $52.57 yesterday.
Amedisys target upped by Oppco
Amedisys price target raised to $85 from $77 at Oppenheimer. Oppenheimer analyst Michael Wiederhorn raised his price target for Amedisys to $85 from $77 on 6%-7% accretive share repurchase. The analyst reiterates an Outperform rating on the shares.
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