Endo announced positive results today from two identical Phase 3 RELEASE studies of collagenase clostridium histolyticum for the treatment of cellulite in the buttocks. Subjects receiving CCH showed highly statistically significant levels of improvement in the appearance of cellulite with treatment, as measured by the trial’s primary endpoint, which was at least a 2-level composite improvement in cellulite severity in the target buttock at Day 71 as compared to subjects receiving placebo. In addition, RELEASE-1 passed 8 out of 8 key secondary endpoints and RELEASE-2 passed 7 out of 8 key secondary endpoints. CCH was well-tolerated in the actively-treated subjects with most adverse events being mild to moderate in severity and primarily limited to the local injection area.
Wednesday, November 7, 2018
Ultragenyx price target lowered to $75 from $90 at Canaccord
Canaccord analyst Arlinda Lee lowered her price target on Ultragenyx to $75 from $90, citing the announced discontinuation of triheptanoin development, which she removed from her model. Lee reiterated her Buy rating on Ultragenyx shares, noting its first commercial launches of Crysvita and Mepsevil are under way.
Genomic Health price target raised to $82 from $70 at Canaccord
Canaccord analyst Mark Massaro raised his price target on Genomic Health to $82 from $70 following its beat and raise Q3 results. The analyst cited its topline growth and raised top and bottom line outlook for the year. Massaro reiterated his Buy rating on Genomic Health shares.
Acadia poised to outperform in 2019, says H.C. Wainwright
H.C. Wainwright analyst Andrew Fein expects to see Nuplazid regain momentum following Acadia Pharmaceuticals’ Q3 results. As the overhang of the safety concerns around Nuplazid was cleared by the FDA’s statement in September, the key commercial question is now whether the company will be able to regain the growth momentum through a number of promotional activities, Fein tells investors in a research note. He expects to see the “normalization of growth in the months ahead” and says Acadia is poised to outperform in 2019. Fein keeps a Buy rating on the shares with a $60 price target.
Catalent upgraded to Outperform from Neutral at First Analysis
First Analysis analyst Steven Schwartz upgraded Catalent to Outperform while lowering his price target for the shares to $43 from $47. The analyst says that while management commentary following a “mixed” fiscal Q1 suggests more risk to near-term achievement of results, he remains confident in the company’s medium- and long-term prospects based on a positive view of contract development and manufacturing organization industry dynamics. He upgrades the shares on valuation following yesterday’s selloff.
CVS Health price target raised to $100 from $80 at Morgan Stanley
CVS Health price target raised to $100 from $80 at Morgan Stanley. Morgan Stanley analyst Ricky said he believes the combination of CVS (CVS) and Aetna (AET) has the potential to transform the delivery of care as he introduced pro forma estimates for the combined company. He noted the wide range of consensus estimates, with EPS ranges from $6.63-$8.21 for 2019 and $7.45-$9.05 for 2020, while telling investors that his own pro-forma EPS forecasts are for $7.57 in 2019 and $8.30 in 2020. In setting up a valuation framework for the combined company, Goldwasser raised his price target on CVS shares to $100 from $80 and keeps an Overweight rating on the stock.
Addus HomeCare price target raised to $80 from $72 at Oppenheimer
Oppenheimer analyst Michael Wiederhorn raised his price target for Addus HomeCare to $80 from $72 following quarterly results. The analyst believes the company continues to perform well operationally, and its rapid M&A pace and balance sheet changes are going to help results take another step forward. He reiterates an Outperform rating on the shares.
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