Citi analyst Robyn Karnauskas opened a catalyst watch on Gilead Sciences ahead of its 4 selonsertibi data readout in Q1. The analyst sees potential upside for the shares and notes nonalcoholic steatohepatitis represents $11 of her $106 price target on Gilead. She keeps a Buy rating on the stock.
Monday, January 28, 2019
Nabriva price target lowered to $9 from $20 at H.C. Wainwright
H.C. Wainwright analyst Ed Arce lowered his price target for Nabriva Therapeutics to $9 but maintains a Buy rating on the shares following the company’s analyst day. Nabriva is uniquely positioned to potentially launch two new classes of antibiotics in the U.S. by year end, Arce tells investors in a research note. The analyst says the company is approaching “several near-term value inflection points” towards its transition to a commercial stage biotech.
Selecta Biosciences price target lowered to $12 from $28 at Needham
Selecta Biosciences price target lowered to $12 from $28 at Needham. Needham analyst Chad lowered his price target on Selecta Biosciences to $12 to reflect the impact of equity dilution from the company’s recent financing and also the longer timeframe for the launch of its SEL-212 product. Longer term, the analyst keeps his Buy rating on Selecta Biosciences based on the potential for SEL-212 to succeed in clinical trials for refractory and tophaceous gout and for its possibility of “bringing additional SVP programs to the clinic.”
Cantor sees catalysts for upside to Cerus sales growth estimates
Cantor Fitzgerald analyst Craig Bijou reiterates an Overweight rating on Cerus with a $9 price target after hosting meetings with management. The analyst came away “encouraged that the cadence of catalysts over the next several years” could drive upside to his current estimates. Bijou expects pathogen-reduced platelet penetration, led by accelerating American Red Cross adoption, to be the company’s primary driver of sales growth in 2019. Faster U.S. platelet penetration and other near-term catalysts should drive upside to revenue growth estimates in 2019 and beyond, the analyst tells investors in a research note. He also believes finalization of FDA guidance, expected in 2019, should accelerate the adoption of U.S. pathogen-reduced platelets.
Conatus announces publication expanding on three Phase 2 clinical trials
Conatus announced publications expanding on previously reported results from three of the company’s completed Phase 2 clinical trials. Mitchell Schiffman, is the lead author on a new publication in Alimentary Pharmacology and Therapeutics detailing results from the double-blind, placebo-controlled Phase 2 NAFLD/NASH clinical trial. This trial enrolled 38 patients with nonalcoholic fatty liver disease, or NAFLD, including the subset of NAFLD patients with nonalcoholic steatohepatitis, or NASH. Patients were randomized 1:1 to receive either 25 mg of emricasan or placebo orally twice daily for 28 days. Top-line results from the NAFLD/NASH clinical trial were released in March 2015 and presented at The International Liver Congress, the annual meeting of the European Association for the Study of the Liver, or EASL, in April 2015. Guadalupe Garcia-Tsao is the lead author on a new publication in Hepatology detailing results from the exploratory, open-label Phase 2 Portal Hypertension clinical trial. This trial enrolled 23 patients with portal hypertension and compensated liver cirrhosis that was predominantly due to NASH or hepatitis C virus, or HCV, including patients with active HCV infection and patients who had a sustained viral response to antiviral therapy. Patients received 25 mg of emricasan orally twice daily for 28 days. Top-line results from the Portal Hypertension clinical trial were released in September 2015 and presented at The Liver Meeting, the annual meeting of the American Association for the Study of Liver Diseases, or AASLD in November 2015. Catherine Frenette is the lead author on a new publication in Clinical Gastroenterology and Hepatology detailing results from the Phase 2 Liver Cirrhosis trial. This trial enrolled 86 patients with liver cirrhosis, mild to moderate liver impairment and a model for end-stage Liver Disease, or MELD, score of 11 to 18 during the screening period. In the first phase of the trial, patients were randomized 1:1 to receive 25 mg of emricasan or placebo orally twice daily for 28 days. Top-line results from the first stage were released in January 2016 and presented at the EASL annual meeting in April 2016. In the open-label second stage, patients who completed the first stage of the trial, either on treatment or placebo, received emricasan for up to an additional three months. Top-line results from the second stage were released in May 2016 and presented at the AASLD annual meeting in November 2016.
Roche initiated at Argus
Roche initiated with a Buy at Argus. Argus analyst John Staszak initiated Roche with a Buy rating and a price target of $40, saying that while some of the company’s strong “blockbuster” products are maturing or facing competition from biosimilars, the pipeline of its new programs should support revenues. The analyst is also positive on the company’s focus of tailoring treatments to patients by combining its expertise in pharmaceuticals and diagnostics. Staszak expects the sales momentum of Roche to generate “above-industry-average EPS growth over the next two years,” adding that his implied price target assumes higher valuation multiples and improved earnings.
Exact Sciences price target raised to $109 from $100 at UBS
UBS analyst Daniel Brennan raised his price target on Exact Sciences (EXAS) to $109 from $100 following meetings with management. The analyst raised his doctor additions forecast as well as his Street-high revenue forecasts and still sees room for upside. He sees the additions upside coming as the result of a doubling of ad spending, the addition of Pfizer (PFE and its salesforce, and the doubling of its own salesforce. Brennan reiterated his Buy rating on Exact Sciences shares.
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