Friday, October 5, 2018
Progenics OSPREY 2301 study meets one co-primary endpoint, misses the other
https://thefly.com/landingPageNews.php?id=2800262
Omnicell price target raised to $79 after product launches at Benchmark
Benchmark analyst Bill Sutherland said Omnicell appears to be entering a multi-year period of above-average growth and expanding margins following the recent launch of several products. He expects bookings momentum to continue to build and thinks margin growth could exceed current 2019-2020 consensus, Sutherland added. He raised his price target on Omnicell shares to $79 from $66 and keeps a Buy rating on the stock.
JPMorgan sees multi-billion dollar diabetes opportunity for Eli Lilly
JPMorgan analyst Chris Schott raised his price target for Eli Lilly to $123 from $117 following yesterday’s diabetes Phase 2 data. The data surpassed street expectations, suggesting a potential best-in-class profile for GIP/GLP-1, Schott tells investors in a research note. If Lilly can replicate these efficacy results in {hase 3 and improve high dose tolerability, it has a multi-billion dollar product opportunity with GIP/GLP-1, the analyst contends. He continues to see an attractive setup for the stock and keeps an Overweight rating on Eli Lilly.
Cutera price target lowered to $40 from $50 at Stephens
Stephens analyst Chris Cooley noted that Cutera’s Q3 negative pre-announcement marked the third consecutive quarterly shortfall for the company and he lowered his price target on the stock to $40 in reaction to the news. While he believes the shares are likely to continue to underperform through the end of the calendar year, Cooley said he is inclined to take a longer-term focus and hold rather than sell while waiting for growth to accelerate in 2019. He maintains an Overweight rating on Cutera shares, which are down 16% to $24.94 in pre-market trading.
Assembly Biosciences recent selloff a buying opportunity, says Jefferies
Assembly Biosciences shares have been trading down over the past two days on “uncertainty and some nervousness” around Hec Pharma’s data with GLS4 that will be presented at the American Association for the Study of Liver Diseases annual meeting, Jefferies analyst Michael Yee tells investors in a research note. However, the analyst believes the data have no good read through to Assembly’s program. There are a number of differences that would explain clearly why the Hec Pharma data is modest and why Assembly should have much better data with its Phase II in the first half of 2019, Yee contends. He views the stock selloff as an overreaction and sees a buying opportunity at current levels. Yee keeps a Buy rating on Assembly Biosciences with a $75 price target.
Veeva price target raised to $120 from $105 at DA Davidson
DA Davidson analyst Rishi Jaluria raised his price target on Veeva to $120 and kept his Buy rating after its Analyst Day, saying the management’s tone was more positive as momentum of newer products increased. The analyst also cited increasing adoption of Vault and the company’s update of 2020 target operating models with 100bp improvement expected in operating margins. Jaluria is also pointing to its $1B revenue run rate being expected to be reached a year earlier than originally planned.
Audentes Therapeutics presents new ‘positive’ interim data from ASPIRO
Audentes Therapeutics announced new positive interim data from ASPIRO, the Phase 1/2 clinical trial of AT132 for the treatment of X-linked Myotubular Myopathy. The data will be presented at the 23rd International Annual Congress of the World Muscle Society by Nancy Kuntz, MD, Principal Investigator at Ann & Robert H. Lurie Children’s Hospital of Chicago, Medical Director of Mazza Foundation Neuromuscular Program and Professor of Pediatrics and Neurology at Northwestern University Feinberg School of Medicine. The oral presentation by Dr. Kuntz will be held during a session on new therapeutic modalities scheduled to begin at 9:30 a.m. ET on October 5, 2018. The newly reported data include follow-up assessments ranging from 4 to 48 weeks for the eight patients enrolled in ASPIRO to date, including the seven patients enrolled in Cohort 1 (1×1014 vg/kg; six treated and one untreated control) and one patient enrolled to date in Cohort 2 (3×1014 vg/kg). Key assessments include neuromuscular function as measured by CHOP INTEND; respiratory function as measured by maximal inspiratory pressure and ventilator dependence; and vector transduction, transgene expression and histological improvement as assessed via muscle biopsy. All treated patients continue to show meaningful improvements in neuromuscular and respiratory function, with no new treatment-related SAEs reported since the last scientific update in May 2018.
https://thefly.com/landingPageNews.php?id=2800285
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