Monday, January 7, 2019
ViewRay sees FY18 revenue about $81M, consensus $79.73M
https://thefly.com/landingPageNews.php?id=2844264
Emergent BioSolutions sees FY19 revenue $1.06B-$1.14B, consensus $1.02B
https://thefly.com/landingPageNews.php?id=2844268
Amarin price target lowered to $15 from $30 at SunTrust
SunTrust analyst John Boris lowered his price target on Amarin after the company guided its FY19 revenue outlook well below consensus and offered more details timing of Vascepa sNDA filing. The analyst contends that the company needs to employ a larger sales force to “realize Vascepa full potential” beyond the 400 reps currently and also lowers his FY19 EPS view to (23c) from 18c to reflect Amarin’s expectations of lower sales and higher SG&A costs. Longer term, Boris keeps his Buy rating on Amarin, noting that Vascepa could have a “significant commercial upside” if it can secure a label for reducing cardiovascular risk.
SI-Bone sees Q4 revenue $15.4M-$15.6M, consensus $15.42M
U.S. revenue is expected to be in the range of $14.3-$14.5 million, reflecting growth of 15-16% compared to the prior year period, in line with 2018 growth trends. International revenue is expected to be $1.1 million.
Chembio gets CE Mark for test developed in collaboration with AstraZeneca
Chembio Diagnostics (CEMI) announced that it has received a CE mark for its diagnostic test developed in collaboration with AstraZeneca (AZN). Chembio and AstraZeneca have collaborated to develop a quantitative diagnostic test to detect an undisclosed biomarker, using Chembio’s patented DPP platform. The CE marked DPP System, which includes the new DPP(R) test and DPP Micro Reader, provides quantitative results in ten minutes from a small drop of fingertip or venous blood. In December 2017, Chembio announced an 18-month agreement with AstraZeneca, under which Chembio will receive up to $2.9M in funding from AstraZeneca, subject to satisfying certain milestones, to develop a quantitative reader-based point-of-care test utilizing Chembio’s patented DPP platform. The DPP platform is the same technology used for Chembio’s DPP HIV 1/2 Assay, which is FDA-approved, CLIA Waived, CE marked, and WHO pre-qualified.
Abiomed ups FY19 revenue view to $780M from $765M-$770M; Consensus $773.55M
https://thefly.com/landingPageNews.php?id=2844340
Cardiovascular Systems FY19 revenue guidance $243-247M Consensus $244.72M
CEO Scott Ward said, “Our revenue results year-to-date position CSI to deliver fiscal 2019 revenue in a range of $243 million to $247 million, an increase of 12% to 14% compared to fiscal 2018. We plan to provide formal guidance details when we report fiscal second-quarter results at the end of the month.”
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