Monday, January 7, 2019
Jefferies keeps $30 target on Amarin, says guidance conservative
Amarin Friday night reported “strong” Q4 Vascepa results, although stock is trading lower perhaps due to conservative guidance, Jefferies analyst Michael Yee tells investors in a research note. The analyst views the news “as a positive sign of what’s been going on recently.” Amarin does not even have a label expansion yet and it has been only two months since the mid-November data presentation, Yee writes. He expects trends to continue to grow monthly throughout the year, even before Amarin receives a formal label expansion. While the stock may be down today, “things look strong fundamentally,” Yee contends. He views the company’s sales guidance as conservative and keeps a Buy rating on Amarin with a $30 price target.
https://thefly.com/landingPageNews.php?id=2844667
Nevro sees Q4 revenue $107.6M-$108.1M, consensus $106.15M
https://thefly.com/landingPageNews.php?id=2844669
Ascendis Pharma reports oncology as second independent area of focus
Ascendis Pharma introduced Vision 3×3, the company’s strategic roadmap through 2025 to achieve sustainable growth, at the 37th Annual J.P. Morgan Healthcare Conference in San Francisco. As part of that vision, the company also announced oncology as its second independent therapeutic area of focus. The goal of Ascendis Pharma’s Vision 3×3 strategic roadmap through 2025 is to achieve sustainable growth through multiple approaches: Obtain regulatory approval for three endocrinology rare disease products: TransCon hGH for pediatric growth hormone deficiency, TransCon PTH for adult hypoparathyroidism (HP), and TransCon CNP for achondroplasia. Create further growth of the company’s endocrinology rare disease pipeline through: Label expansion programs with the goal of obtaining 9 indications in total; and Global clinical reach either directly or through partnerships. Build an integrated commercial business for the endocrinology rare disease franchise in North America and select European countries, and establish a global commercial presence with partners in other geographic areas. Create three independent therapeutic areas, each with a diversified pipeline built on TransCon technologies and the company’s unique algorithm for product innovation. The company has established oncology as the next independent therapeutic area. Ascendis also announced that it has established oncology as its second independent therapeutic area. To lead the oncology research and development programs, Ascendis recently appointed Juha Punnonen, MD, PhD, as Senior Vice President and Head of Oncology.
https://thefly.com/landingPageNews.php?id=2844671
Quorum Health to divest Big Springs, Texas hospital
Quorum Health announced that it has entered into a definitive agreement to divest the 146-bed Scenic Mountain Medical Center in Big Springs, Texas. The transaction is expected to be complete by the end of the first quarter of 2019, subject to customary approvals and conditions.
https://thefly.com/landingPageNews.php?id=2844681
Alliance for Regenerative Medicine (ARM) to hold a briefing
2019 Cell & Gene Therapies State of the Industry Briefing will be held in San Francisco on January 7 with webcasted company presentations to begin at 11 am; not all company presentations may be webcasted.
Piper Jaffray views price paid for Loxo by Eli Lilly as fair
Piper Jaffray analyst Tyler Van Buren views the price of $235 per share paid by Eli Lilly (LLY) for Loxo Oncology (LOXO) as fair. The analyst says the price is near the $250-plus he previously thought was achievable in an acquisition scenario for Loxo. Other names in the precision medicine/oncology space that could be up today as a result of the buyout are Agios Pharmaceuticals (AGIO), ArQule (ARQL), Array BioPharma (ARRY), Blueprint Medicines (BPMC), Kura Oncology (KURA), Mirati Therapeutics (MRTX) and others, Van Buren tells investors in a research note. He raised his price target for Loxo Oncology to $235 from $200 and keeps an Overweight rating on the shares.
Allscripts sees non-GAAP 3-year revenue CAGR 5.5%-9%
Sees non-GAAP revenue CAGR for 2019-2021 of 5.5%-9%. Comments taken from slides that will be presented at the 37th Annual J.P. Morgan Healthcare Conference.
https://thefly.com/landingPageNews.php?id=2844701
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