KeyBanc analyst Donald Hooker reiterated an Overweight rating for Cerner and raised his price target to $74 after the company’s “healthy” Q2 results, which featured “particularly strong” bookings. Looking ahead, Hooker tells investors in a research note that he is raising his revenue outlook to $5.423B from $5.361B in 2018 and to $5.816B from $5.791B in 2019 based on the visibility created by the Q2 bookings and bookings guidance.
Friday, August 3, 2018
H.C. Wainwright bullish on Insmed into Tuesday’s FDA panel
H.C. Wainwright analyst Andrew Fein is bullish on shares of Insmed into Tuesday’s FDA panel meeting. The collective strength of the Amikacin Liposome Inhalation Suspension data “essentially removes the regulatory risks,” Fein tells investors in a research note. With no effective treatment available, the analyst expects a positive panel vote. He reiterates a Buy rating on Insmed with a $35 price target. The analyst adds that if he were to assume a 100% probability of success for ALIS, he “could easily justify” a valuation north of $50 per share.
Seres Therapeutics downgraded to Underperform at BofA/Merrill
BofA/Merrill downgraded Seres Therapeutics to Underperform from Neutral and cut its price target to $6 from $13. Analyst Tazeen Ahmad said management has not provided a timeline yet for the ECOSPOR III study of ‘109 and pushed out his expected launch date to 2021 from 2020. Ahmad believes Seres’ microbiome-based pipeline could yield new treatment options for many diseases but notes the landscape is becoming increasingly competitive.
Zafgen initiated with an Outperform at Wedbush
Zafgen initiated with an Outperform at Wedbush. Wedbush analyst Liana Moussatos initiated with an Outperform rating and 12-month price target of $14, telling investors in a research note that she views Zafgen an opportunity to invest in a proprietary second generation methionine aminopeptidase 2 or MetAP2 inhibitor platform for treatment of complex metabolic disorders including difficult-to-control type-2 diabetes, Prader-Willi Syndrome and liver diseases like non-alcoholic steatohepatitis. MetAP2 inhibitors reduce lipid synthesis and fat storage. She also views execution risk to be lower than typical due to management’s experience in the pharmaceutical industry, and projects potential achievement of “blockbuster” revenues in 2028 for ZGN-1061 in T2D after launch in 2024 and potentially achieving around $1B in 2017 from ZGN-1258 sales for PWS after potential launch in 2022.
Pacira upgraded to Buy at Needham on strong Exparel sales
As reported earlier, Needham analyst Serge Belanger upgraded Pacira to Buy from Hold with a $54 price target. The analyst points to “strong” Q2 performance of Exparel, where sales growth is accelerating while the company engages more of the anesthesiologist community. Belanger says the company’s “fortunes began to change in April with the unexpected approval of the nerve block label”, adding that last week’s CMS proposal to unbundle the drug from ASC center surgeries may turn into another “significant” growth catalyst starting next year.
ResMed Inc. (NYSE:RMD) reported earnings of $0.95 per share beat views
ResMed Inc. (NYSE:RMD) reported Q4 2018 earnings, coming in at $0.95 per share, beating Wall Street’s estimates of $0.94 per Share. Revenue for the quarter came in at $623.63 million beating analyst estimates of $622.78 million
Thursday, August 2, 2018
Select Medical (NYSE:SEM) reported earnings of $0.31 per share miss views
Select Medical (NYSE:SEM) reported Q2 2018 earnings, coming in at $0.31 per share, missing Wall Street’s estimates of $0.35 per Share. Revenue for the quarter came in at $1.30 billion beating analyst estimates of $1.29 billion
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