GW Pharmaceuticals resumed with an Overweight at Morgan Stanley. Morgan Stanley analyst David Lebowitz resumed coverage of GW Pharmaceuticals with an Overweight rating and $197 price target, stating that he expects a strong launch for Epidiolex for Dravet and Lenox-Gastaut syndromes once the DEA has officially rescheduled the marijuana-based therapy as being acceptable for medicinal use. He projects 2019 Epidiolex franchise sales of $72M growing to $1.3B by 2025, Lebowitz tells investors.
Friday, September 7, 2018
Rhythm Pharmaceuticals initiated at Morgan Stanley
Rhythm Pharmaceuticals resumed with an Overweight at Morgan Stanley. Morgan Stanley analyst David Lebowitz resumed coverage of Rhythm Pharmaceuticals with an Overweight rating and $38 price target, stating that early data suggest setmelanotide could be approvable as a therapy for ultra-rare forms of obesity. Collectively, MC4 pathway obesity disorders represent $1B in potential sales, the analyst estimates.
https://thefly.com/landingPageNews.php?id=2787263
Exelixis: new recommendations for Cabometyx tablets in national guidelines
Exelixis announced that the National Comprehensive Cancer Network, or NCCN, updated its Clinical Practice Guidelines to include new recommendations for Cabometyx tablets. With the updates, Cabometyx is recommended by the NCCN for the treatment of advanced renal cell carcinoma, or RCC, regardless of patient risk status. Key Cabometyx-related highlights from the updated NCCN Clinical Practice Guidelines for Kidney Cancer include: Cabometyx is the only preferred tyrosine kinase inhibitor treatment option for first-line patients in the poor- and intermediate-risk groups; Cabometyx is a recommended first-line treatment option for favorable-risk patients; Cabometyx is the only preferred TKI treatment option for previously treated patients.
https://thefly.com/landingPageNews.php?id=2787273
Expectations for Aclaris Therapeutics’ Eskata are low, says Jefferies
Jefferies analyst David Steinberg surveyed 50 physicians who treat a high volume of seborrheic keratosis patients to better understand their views on Aclaris Therapeutics’ Eskata. Respondents indicated that 54% of their patients could potentially benefit from Eskata, Steinberg tells investors in a research note. Given that 83M Americans have some form of SK, the survey-derived peak sales estimate of $250M for Eskata “does not seem unreasonable,” the analyst adds. He believe expectations for Eskata are low, “particularly considering the growing value” of Aclaris’ late stage pipeline. Steinberg lowered his price target for the shares to $30 from $33 and keeps a Buy rating on Aclaris Therapeutics.
https://thefly.com/landingPageNews.php?id=2787323
Akebia, FibroGen initiated at Morgan Stanley
Akebia resumed with an Equal Weight at Morgan Stanley. Morgan Stanley analyst David Lebowitz resumed coverage of Akebia (AKBA) with an Equal Weight rating and $9 price target, stating that value is primarily driven by the potential of vadadustat as a treatment for anemia associated with chronic kidney disease. Vadadustat is a year behind FibroGen’s (FGEN) competing HIF-inhibitor roxadustat and that lead could be an advantage if the data for the two drugs is not sufficiently differentiated, said Lebowitz.
https://thefly.com/landingPageNews.php?id=2787281
Thursday, September 6, 2018
ImmunoGen initiated at Piper Jaffray
ImmunoGen initiated with an Overweight at Piper Jaffray. Piper Jaffray analyst Joseph Catanzaro started ImmunoGen with an Overweight rating and $15 price target. The analyst says the company’s wholly-owned oncology asset is nearing a pivotal readout.
Zogenix initiated at B. Riley FBR
Zogenix initiated with a Buy at B. Riley FBR. B. Riley FBR analyst Madhu Kumar started Zogenix with a Buy rating and $116 price target. The analyst believes ZX008 has blockbuster potential in orphan seizures.
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