Teladoc price target raised to $70 from $50 at KeyBanc. KeyBanc analyst Donald Hooker raised his price target for Teladoc to $70 from $50 looking into 2H18 and following the acquisition of Advance Medical. The analyst reiterates an Overweight rating on the shares.
Monday, July 9, 2018
Kura target upped by Oppco
Kura Oncology price target raised to $35 from $27 at Oppenheimer. Oppenheimer analyst Leah Rush Cann raised her price target for Kura Oncology to $35 from $27, citing an increased average forward price-to-sales multiple of the biotechnology sector. The analyst reiterates an Outperform rating on the shares.
Codexis starts Phase 1 for PKU oral med
Codexis announces that it has dosed the first subjects in a first-in-human Phase 1a dose-escalation trial with CDX-6114, its orally administered enzyme therapeutic being developed for the management of phenylketonuria. The initiation of the trial triggers a $4M milestone payment to Codexis from Nestle Health Science under their strategic collaboration announced in October 2017.
PTC ‘positive’ results from Phase 2 Duchenne Study
PTC Therapeutics announced the presentation of data from the Translarna Phase II Study 030 demonstrating that the safety and pharmacokinetic profile of Translarna in children from two to five years with nonsense mutation Duchenne muscular dystrophy was consistent with that for older children. Importantly, the data also showed that treatment with Translarna resulted in improvements in timed function tests and the North Star Ambulatory Assessment from baseline at weeks 28 and 52, with mean changes showing as much as a 25% improvement after one year. The data at 28 weeks formed the basis of the recent positive opinion from the Committee for Medicinal Products for Human Use of the European Medicines Agency to expand the current indication of Translarna to include nmDMD ambulatory children from two to five years of age. The data was presented at the International Congress on Neuromuscular Diseases in Vienna.
Miragen target hiked by Oppco
Miragen Therapeutics price target raised to $19 from $13 at Oppenheimer. Oppenheimer analyst Leah Rush Cann raised her price target fro Miragen Therapeutics to $19 from $13 to account for an increased average forward price-to-sales multiple of the biotechnology sector. The analyst reiterates an Outperform rating on the shares
Mirati target upped by Oppco
Mirati Therapeutics price target raised to $62 from $35 at Oppenheimer. Oppenheimer analyst Leah Rush Cann raised her price target for Mirati Therapeutics to $62 from $35 to account for an increased average forward price-to-sales multiple of the biotechnology sector. The analyst reiterates an Outperform rating on the shares.
Catabasis plans Phase 3 Duchenne trial
Catabasis Pharmaceuticals announced plans for the Phase 3 POLARIS DMD trial with edasalonexent in patients with Duchenne muscular dystrophy, or DMD. Catabasis plans to initiate the global POLARIS DMD trial in the second half of 2018 with top-line results expected in Q2 of 2020. The POLARIS DMD trial will evaluate the efficacy and safety of edasalonexent in patients with DMD and is intended to support an application for commercial registration of edasalonexent. The trial design was informed by discussions with the FDA as well as input from treating physicians and families of boys affected by Duchenne. The randomized, double-blind, placebo-controlled POLARIS DMD trial has many key elements in common with the Phase 2 MoveDMD trial, including the patient population and functional endpoints. Catabasis anticipates enrolling approximately 125 patients between the ages of 4 and 7 regardless of mutation type who have not been on steroids for at least 6 months. Boys on a stable dose of eteplirsen may be eligible to enroll. The primary efficacy endpoint will be change in the North Star Ambulatory Assessment score after 12 months of treatment with edasalonexent compared to placebo. Key secondary endpoints are planned to include the age-appropriate timed function tests time to stand, 4-stair climb and 10-meter walk/run. Assessments of growth, cardiac and bone health are also planned to be included. Two boys will receive edasalonexent for every boy that receives placebo and after 12 months, all boys are expected to receive edasalonexent in an open-label extension
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