Piper Jaffray analyst JP McKim raised his price target for Inogen to $290 after traveling with management. The “thematic shift” to portable oxygen concentrators away from tanks remains early in the conversion and all the key growth drivers for the business remain very strong, McKim tells investors in a research note. Further, the analyst believes competition, either from others entering the market or attempting to go direct-to-consumer, “remains noise at this time” with little to no impact on Inogen’s business. He believes the company’s Q3 is shaping up to be strong and has renewed confidence in its multiyear growth story. McKim keeps an Overweight rating on Inogen.
Thursday, September 13, 2018
Cara Therapeutics initiated at Jefferies
Cara Therapeutics initiated at Jefferies Cara Therapeutics initiated with a Buy at Jefferies. analyst Matthew Andrews started Cara Therapeutics with a Buy rating and $30 price target.
https://thefly.com/landingPageNews.php?id=2789751
Dicerna initiated at Citi
Dicerna initiated with a Buy at Citi. Citi analyst Robyn Karnauskas started Dicerna Pharmaceuticals with a Buy rating and $27 price target.
https://thefly.com/landingPageNews.php?id=2789753
Astellas Pharma downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Joseph Cairnes downgraded Astellas Pharma to Hold with an unchanged price target of JPY 2,020. The analyst sees a more balanced risk/reward at current valuation levels.
https://thefly.com/landingPageNews.php?id=2789777
JPMorgan upgrades DaVita to Neutral on better chance of SB1156 veto
JPMorgan analyst Gary Taylor upgraded DaVita to Neutral from Underweight with an unchanged price target of $68. The analyst now believes is it much more likely that California Governor Brown will veto the recently passed SB1156, which he notes would curtail the financial arbitrage that dialysis providers enjoy from charitable premium assistance. With shares of DaVita down nearly 10% since the bill’s passage, the analyst sees “better prospects for the stock to recover that ground” in the near-term. As such, he views the company’s risk/reward as more balanced at current share levels. However, Taylor retains his longer-term concern regarding the charitable premium assistance “cat & mouse” game between employers/insurers and dialysis providers.
https://thefly.com/landingPageNews.php?id=2789781
Stryker price target raised to $200 from $190 at JPMorgan
JPMorgan analyst Robbie Marcus raised his price target for Stryker to $200 saying the company is poised to post “top-tier” growth in the second half of 2018 and beyond. The analyst sees Stryker as one of the highest quality names in the MedTech space and a core MedTech holding. He believes current share levels provide an attractive entry point and reiterates an Overweight rating on the name.
https://thefly.com/landingPageNews.php?id=2789783
AngioDynamics to acquire RadiaDyne
AngioDynamics to acquire RadiaDyne AngioDynamics announced an agreement to acquire, a privately held medical diagnostic and device company that designs and develops patient dose monitoring technology to improve cancer treatment outcomes. This transaction expands AngioDynamics’ growing Oncology business by adding RadiaDyne’s early-stage, proprietary OARtrac real-time radiation dose monitoring platform and other market-leading oncology solutions, including the IsoLoc/ImmobiLoc and Alatus balloon stabilizing technologies.
https://thefly.com/landingPageNews.php?id=2789799
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