Argus analyst Jasper Hellweg raised his price target on HCA Healthcare to $150 and kept his Buy rating, saying the company’s recent acquisition of Mission Heath in North Carolina strengthens its regional presence. The analyst also cites the managements expectations of healthcare services demand rising 2.0-2.5% annually on “population growth, strong economic conditions, higher medical utilization, and an increase in the number of patients with chronic conditions.” Hellweg raises his FY18 EPS view on HCA Healthcare to $9.24 from $8.74, adding that its valuation is “attractive” at 14.4-times expected FY18 earnings vs. 17.5-times peer group average.
Thursday, September 6, 2018
Pfizer price target raised to $47 from $44 at BMO Capital
BMO Capital analyst Alex Arfaei raised his price target on Pfizer to $47 and kept his Outperform rating, citing the company’s Tafamidis potential prospects of $3.5B or more in sales by 2027. The analyst notes that Transthyretin Amyloid Cardiomyopathy, or ATTR-CM, is a “fatal, under-diagnosed heart disease with no approved treatments”, but the new method of diagnosis could ramp up from 1% to 20%, supporting the “robust efficacy” with “benign safety” offered by the company’s treatment. Arfaei further contends that Pfizer’s 3.5% dividend yield and 14-times forward earnings multiple make the stock attractive.
Iovance off on Moffitt data, Oppenheimer reiterates Outperform rating
Preliminary clinical data from a Moffitt-sponsored trial of tumor infiltrating lymphocyte therapy in lung cancer was published yesterday in an abstract, Oppenheimer analyst Mark Breidenbach tells investors in a research note. Per the abstract, two of six efficacy-evaluable patients achieved partial responses of limited duration, Breidenbach points out. While these data suggest tumor infiltrating lymphocyte therapy is active in non-small-cell lung carcinoma, the limited durability of response suggests an optimal strategy for generating and deploying TIL in NSCLC has yet to be worked out, contends the analyst. His thesis on Iovance Biotherapeutics remains focused on melanoma and HPV-associated cancers. Breidenbach reiterates an Outperform rating on Iovance with a $22 price target. The stock in early trading is down 10.5%, or $1.78, to $15.18.
Piper ‘incrementally positive’ on BioMarin after Valrox filing plans
Piper Jaffray analyst Christopher Raymond is “incrementally positive” on BioMarin shares after the company disclosed at a conference today that it plans to file for accelerated approval of Valrox, the company’s hemophilia gene therapy, in the second half of 2019. The analyst notes this is a full year earlier than he currently models. Pulling Valrox forward by one year adds approximately $10 per share to the stock, Raymond tells investors in a research note. He keeps an Overweight rating on BioMarin with a $120 price target. The stock in early trading is up 2c to $96.62.
Moffitt data has little read-across to Iovance platform, says B. Riley FBR
Preliminary clinical data from a Moffitt-sponsored trial of tumor infiltrating lymphocyte therapy in lung cancer has little read-across to Iovance Biotherapeutics’ TIL platform, B. Riley FBR analyst Madhu Kumar tells investors in a research note. He reiterates a Buy rating on Iovance with a $24 price target. The stock in morning trading is down 13%, or $2.25, to $14.70.
Citron’s Left files suit against Tesla on behalf of fellow short-sellers
Andrew Left, the head of Citron Research, “individually and on behalf of all others similarly situated,” has filed a securities class action lawsuit against Tesla and its Chairman and CEO Elon Musk in the U.S. District Court for the Northern District of California. In the suit, Left alleges that Musk “artificially manipulated the price of Tesla securities with objectively false tweets in order to ‘burn’ the company’s short-sellers.” The suit filing goes on to state that in the succeeding days, “the truth regarding the supposedly ‘secure’ financing needed to effectuate the going-private transaction began to emerge, exposing the fraudulent scheme, and in the process, injuring class period investors as the price of Tesla securities deteriorated rapidly.” Tesla shares are down fractionally to $280.10 in afternoon trading.
Arrowhead price target raised to $24.50 from $17.50 at Chardan
Chardan analyst Keay Nake raised Buy rated Arrowhead’s price target to $24.50 from $17.50 to reflect increased confidence in the probability of success for the hepatitis B virus franchise.
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