Thursday, January 31, 2019
Regenxbio: FDA grants Rare Pediatric Disease Designation to RGX-181
REGENXBIO announced the U.S. FDA granted Rare Pediatric Disease Designation to RGX-181. RGX-181 is a one-time treatment candidate for late-infantile neuronal ceroid lipofuscinosis type 2 disease, one of the most common forms of Batten disease caused by mutations in the tripeptidyl peptidase 1 gene. In addition to the Rare Pediatric Disease Designation, REGENXBIO previously received Orphan Drug Designation from the FDA for RGX-181. REGENXBIO plans to submit an Investigational New Drug application for RGX-181 to the FDA in the second half of 2019 to enable initiation of a first-in-human clinical trial.
Cantor reiterates $35 target on Amarin after surveying 50 physicians
After surveying 50 physicians regarding Vascepa, Cantor Fitzgerald analyst Louise Chen reiterates an Overweight rating on Amarin with a $35 price target. The stock closed yesterday up 48c to $16.94. The analyst says the survey results underscore her belief that the market opportunity is underappreciated. 52% of physicians noted the high triglyceride patients they see have cardiovascular risk factors beyond what can be mitigated by cholesterol management, Chen tells investors in a research note. She believes the Reduce-It study positions Vascepa to be the first drug to cost-effectively help address CV risk beyond cholesterol management. Chen expects an acceleration in the uptake of Vascepa in 2019.
Baxter CEO says business transformation will continue through 2019
“Baxter continued building momentum in 2018, delivering solid top-line and strong bottom-line performance for the year,” said CEO Jose Almeida. “Our focus on increased innovation, combined with our diverse portfolio, global footprint and unwavering financial discipline, helped us maintain our trajectory in a dynamic marketplace. Our ongoing business transformation will continue throughout 2019 as we prepare to launch new products, pursue high-value capital deployment opportunities and deliver on additional operational excellence initiatives. Our goal remains to drive top quartile performance for all stakeholders in line with our Mission to Save and Sustain Lives.”
Anthem price target raised to $330 from $305 at Barclays
Barclays analyst Steve Valiquette raised his price target for Anthem to $330 citing “high visibility” for 2019 and 2020 following the company’s Q4 results. The analyst reiterates an Overweight rating on the shares.
Illumina bull case remains despite slow start to year, says Canaccord
Canaccord analyst Mark Massaro said the bull case for illumina remains intact despite a slower than expected start to the year. While Q4 revenues were in-line with its pre-announcement, management did not elaborate on why it expected a slower start to the year, but the analyst said he guesses it could be the removal of discounting off the 23andME and Ancestry kits. Massaro reiterated his Buy rating and lowered his price target to $360 from $375 on Illumina shares.
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