Wright Medical initiated with an Outperform at Credit Suisse. Credit Suisse initiated Wright Medical with an Outperform rating and $33 price target.
Monday, December 17, 2018
Emergent BioSolutions gets Health Canada OK for anthrax vaccine NDS
Emergent BioSolutions announced that Health Canada has approved the company’s new drug submission, or NDS, for its anthrax vaccine, BioThrax. BioThrax is indicated for active immunization for the prevention of disease caused by Bacillus anthracis, in individuals 18 through 65 years of age, whose occupation or other activities place them at risk of exposure, regardless of the route of exposure. BioThrax is administered in a three-dose primary schedule with boosters at three-year intervals recommended thereafter. BioThrax was approved under the extraordinary use new drug regulations, which provide a regulatory pathway for products for which collecting clinical information for its intended use in humans is logistically or ethically not possible. BioThrax is designated by Health Canada as an innovative drug giving it market exclusivity for eight years. Earlier this year, Emergent completed the mutual recognition procedure for BioThrax expanding licensure of BioThrax in five European countries, namely, the U.K., Poland, France, Italy and the Netherlands, in addition to Germany, where BioThrax received market authorization in 2013.
Alnylam initiated at Guggenheim
Alnylam initiated with a Buy at Guggenheim. Guggenheim analyst Whitney Ijem started Alnylam Pharmaceuticals with a Buy rating and $105 price target. The analyst expects the Onpattro launch will go well given the existing pool of identified patients and the drugs’s profile versus competitors. Second generation vutrisiran will likely further solidify Alnylam’s competitive positioning and expand the market opportunity, Ijem tells investors in a research note.
BioMarin initiated at Guggenheim
BioMarin initiated with a Neutral at Guggenheim. Guggenheim analyst Whitney Ijem started BioMarin Pharmaceuticals with a Neutral rating. The analyst expects continued growth from the company’s existing commercial portfolio, though she thinks “near-term optionality is priced in at this point.” Ijem struggles to find an upside catalyst for shares in 2019.
Amicus initiated at Guggenheim
Amicus initiated with a Buy at Guggenheim. Guggenheim analyst Whitney Ijem started Amicus Therapeutics with a Buy rating and $18 price target. The analyst thinks Amicus shares are well positioned headed into 2019 given the ongoing Galafold launch and the company’s “robust pipeline of new gene therapy assets that will produce several updates throughout the year.”
Gilead initiated at Guggenheim
Gilead resumed with a Buy at Guggenheim. Guggenheim analyst Whitney Ijem resumed coverage of Gilead Sciences with a Buy rating and $86 price target. With management uncertainty “now moving into the rearview mirror,” the analyst likes the shares heading into 2019. She thinks Gilead’s base business is positioned well and points out the company has several Phase 3 data readouts next year. Ijem calls Selonsertib a “coin-flip” but believes filgotinib data is likely to be positive.
uniQure initiated at Guggenheim
uniQure initiated with a Buy at Guggenheim. Guggenheim analyst Whitney Ijem started uniQure with a Buy rating and $35 price target. The analyst is “impressed” with the company’s recent execution on AMT-061 and thinks initial data bodes well from a factor perspective. She expects additional updates in 2019 will show increases in mean factor level that approach/reach normal levels.
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