Novartis assumed with a Buy at Jefferies. Jefferies analyst Peter Welford assumed coverage of GNovartis with a Buy rating and $105 price target. The analyst is positive on the European large-cap Pharma space “as it enters a period of sustained earnings momentum.”
Tuesday, December 11, 2018
Roche initiated at Jefferies
Roche assumed with a Buy at Jefferies. Jefferies analyst Peter Welford assumed coverage of Roche with a Buy rating and CHF 300 price target. The analyst is positive on the European large-cap Pharma space “as it enters a period of sustained earnings momentum.” He calls Roche his most preferred EU large-cap Pharma name.
Sensus Healthcare initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Alexander Nowak started coverage of Sensus Healthcare with a Buy rating and $10 price target. The analyst notes that the company’s SRT-100 is 11% penetrated and with new indications and improving reimbursement, he expects adoption to ramp. Sensus is a $100M market cap today facing a near term $5B opportunity, he contends, adding that if the company is successful just with its current systems, market cap can move multiples higher.
Therapix Biosciences provided update regarding LOI with FSD
Therapix Biosciences provided an update to shareholders regarding the previously announced binding letter of intent dated October 22, or the LOI, with FSD Pharma for the acquisition of the Company by FSD. It was agreed that the terms of the LOI are to be superseded by a definitive agreement, which the parties intended to execute within 30 days. The LOI by its terms lasted until November 19 but is automatically extended for additional one-week terms unless either party delivers a written notice of termination three (3) days prior to the expiration of the applicable term. The Company and FSD are still in negotiations and FSD wishes to modify certain material terms of the Transaction. The Transaction is still being negotiated.
Moleculin Biotech to hold a conference call
Conference call to discuss recent breakthrough discovery and an FDA filing will be held on December 12 at 4:30 pm.
RA Pharmaceuticals price target raised to $35 from $28 at SunTrust
SunTrust analyst Edward Nash raised his price target on RA Pharmaceuticals to $35 and kept his Buy rating after its positive top-line results from a Phase II zilucoplan trial that are “comparable, if not better, to Soliris’ Phase III REGAIN data.” The analyst notes that the patients in the trial “did not require rescue therapy” and that the drug’s safety profile was “mild”. Nash believes that “zilucoplan is well positioned to treat broader generalized myasthenia gravis, or gMG, patients than Soliris, given its subQ delivery and a more accessible pricing.”
CVS Health assumed with an Outperform at Leerink
Leerink analyst Ana Gupte assumed coverage of CVS Health (CVS) with an Outperform rating and $100 price target. The analyst views the recently raised synergy guidance as having upside with earlier pull-through in 2019 despite the headwind from divestiture of Aetna (AET) Part D lives. Pricing and underwriting remain firm in 2019 based on her MEDACorp fully insured employer broker survey and she is comfortable on stable Commercial margins for the Aetna book. Further, Gupte sees the PBM business as being oversold as it is synergistically integrated with Aetna’s MCO book over time into a full-service captive offering. Retail headwinds from e-commerce look largely priced into consensus estimates while multiples have compressed on fears of Amazon’s (AMZN) entry into pharmacy, she contends.
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