After MediWound announced that CEO Gal Cohen has decided to step down, SunTrust analyst Bruce Nudell said he believes the fact that Cohen is pursuing another opportunity while retaining his share interest in MediWound, along with the lack of formal search for a successor, is “consistent with the notion that a strategic deal is near in hand.” Nudell has a Buy rating and $9 price target on MediWound shares.
https://thefly.com/landingPageNews.php?id=2877931
Tuesday, March 12, 2019
AstraZeneca granted orphan status for pulmonary fibrosis treatment
AstraZeneca granted orphan status for pulmonary fibrosis treatment The FDA granted orphan status for saracatinib, the company's treatment of idiopathic pulmonary fibrosis.
https://thefly.com/landingPageNews.php?id=2877903
https://thefly.com/landingPageNews.php?id=2877903
Cannabis in beauty seen reaching $25B in 10 years
Jefferies believes consumers' interest in wellness and the increasing legalization of marijuana have catalyzed interest in CBD beauty
While monitoring cannabidiol as a theme in beauty, Jefferies analyst Stephanie Wissink noted that while large conglomerates are infusing CBD into existing labels and could augment through M&A, indie brands and specialty retailers are the ones taking the lead in developing the category, estimated at $25B globally in 10 years. As with other ingredient trends, the analyst argued that CBD infused products will likely replace existing non-CBD items in the beauty bag and not significantly enlarge the market size.
CBD IN BEAUTY: The legal U.S. cannabis market nears $10B today, potentially growing to $60B by 2025, Jefferies' Wissink told investors in a research note. The analyst sees wellness aligned categories having among the best potential to capitalize on growth given generally loose regulatory frameworks around topicals, low cost digital content to market, and specialty venues to merchandise. As the trend develops, large conglomerates are infusing CBD into existing labels and could augment through M&A, she added, pointing out Estee Lauder's (EL) Origins Hemp Mask, Unilever's (UN) Murad Hemp Serum and L'Oreal's (LRLCY) Keihl's Cannabis Serum as examples. But similar to other trends, Wissink noted that the majority of CBD beauty offerings are from smaller indie brands, which are taking the lead in developing the category. The analyst believes consumers' interest in wellness, natural ingredients, medicinal benefits and the legalization of marijuana in several states and countries have catalyzed interest in CBD beauty, with search trends for the category up 370% year to date. However, she argued that to the extent CBD infused products are adopted, they likely will replace existing non-CBD items in the beauty bag. Overall, Wissink does not see CBD significantly enlarging the market size, unless dermatology scripts for skin conditions are replaced by over the counter CBD goods, which could drive comparable sales at LVMH's (LVMUY) Sephora and Ulta Beauty (ULTA). Regarding regulations around CBD beauty products, recent discussions "with numerous CBD beauty brands" suggest that the pathway to market is improving, she added.
RECENT INITIATION OF CANNABIS NAMES: Late last month, Jefferies analyst Owen Bennett started coverage of nine names in the cannabis space, namely Aurora Cannabis (ACB), Green Organic Dutchman (TGODF), CannTrust (CTST), OrganiGram (OGRMF) and Flowr (FLWPF) with Buy ratings, Canopy Growth (CGC) and Emerald (EMHTF) with Hold ratings, and Cronos (CRON) and Hexo (HEXO) with Underperform ratings. The analyst told investors that he sees a base-case conservative industry size of over $50B by 2029 and a realistic upside size of $130B on wider industry disruption. Further, he argued that global winners will be those that lead in both medical and recreation, which are now broadly similar but will become two distinct segments, and also have a strong U.S. position.
https://thefly.com/permalinks/entry.php/id2877925/EL;UN;UL;LRLCY;LVMUY;ULTA;ACB;TGODF;CTST;OGRMF;FLWPF;CGC;EMHTF;CRON;HEXO-Cannabis-in-beauty-seen-reaching-B-in--years
CBD IN BEAUTY: The legal U.S. cannabis market nears $10B today, potentially growing to $60B by 2025, Jefferies' Wissink told investors in a research note. The analyst sees wellness aligned categories having among the best potential to capitalize on growth given generally loose regulatory frameworks around topicals, low cost digital content to market, and specialty venues to merchandise. As the trend develops, large conglomerates are infusing CBD into existing labels and could augment through M&A, she added, pointing out Estee Lauder's (EL) Origins Hemp Mask, Unilever's (UN) Murad Hemp Serum and L'Oreal's (LRLCY) Keihl's Cannabis Serum as examples. But similar to other trends, Wissink noted that the majority of CBD beauty offerings are from smaller indie brands, which are taking the lead in developing the category. The analyst believes consumers' interest in wellness, natural ingredients, medicinal benefits and the legalization of marijuana in several states and countries have catalyzed interest in CBD beauty, with search trends for the category up 370% year to date. However, she argued that to the extent CBD infused products are adopted, they likely will replace existing non-CBD items in the beauty bag. Overall, Wissink does not see CBD significantly enlarging the market size, unless dermatology scripts for skin conditions are replaced by over the counter CBD goods, which could drive comparable sales at LVMH's (LVMUY) Sephora and Ulta Beauty (ULTA). Regarding regulations around CBD beauty products, recent discussions "with numerous CBD beauty brands" suggest that the pathway to market is improving, she added.
RECENT INITIATION OF CANNABIS NAMES: Late last month, Jefferies analyst Owen Bennett started coverage of nine names in the cannabis space, namely Aurora Cannabis (ACB), Green Organic Dutchman (TGODF), CannTrust (CTST), OrganiGram (OGRMF) and Flowr (FLWPF) with Buy ratings, Canopy Growth (CGC) and Emerald (EMHTF) with Hold ratings, and Cronos (CRON) and Hexo (HEXO) with Underperform ratings. The analyst told investors that he sees a base-case conservative industry size of over $50B by 2029 and a realistic upside size of $130B on wider industry disruption. Further, he argued that global winners will be those that lead in both medical and recreation, which are now broadly similar but will become two distinct segments, and also have a strong U.S. position.
https://thefly.com/permalinks/entry.php/id2877925/EL;UN;UL;LRLCY;LVMUY;ULTA;ACB;TGODF;CTST;OGRMF;FLWPF;CGC;EMHTF;CRON;HEXO-Cannabis-in-beauty-seen-reaching-B-in--years
Zogenix remains a top pick for 2019 at Mizuho
Mizuho analyst Difei Yang says Zogenix remains one of her top picks in 2019. Fintepla's "unique" mechanism of action has been a key part of the "impressive" data observed in Dravet syndrome, a relatively homogeneous disease, Yang tells investors in a research note. She believes data in new indications "will be an important part of the story" and reiterates a Buy rating on Zogenix with a $69 price target.
https://thefly.com/landingPageNews.php?id=2877565
https://thefly.com/landingPageNews.php?id=2877565
Eli Lilly Phase 3 RELAY study meets PFS primary endpoint
Eli Lilly announced that its Phase 3 RELAY study of Cyramza met its primary endpoint of progression-free survival, or PFS, demonstrating a statistically significant improvement in the time patients lived without their cancer growing or spreading after starting treatment. The Phase 3 global, randomized, double-blind trial is evaluating Cyramza in combination with erlotinib, compared to placebo in combination with erlotinib, as a first-line treatment in patients with metastatic non-small cell lung cancer, or NSCLC, whose tumors have activating EGFR mutations. The safety profile observed in the RELAY study was consistent with what has been previously observed for Cyramza in Phase 3 clinical trials and the established safety profile of erlotinib. The most common Grade 3 adverse events occurring at a higher rate on the Cyramza-plus-erlotinib arm compared to the placebo-plus-erlotinib arm were hypertension, dermatitis acneiform and diarrhea. Detailed efficacy and safety results will be submitted for presentation at a medical meeting.
https://thefly.com/landingPageNews.php?id=2877625
https://thefly.com/landingPageNews.php?id=2877625
Dicerna price target raised to $24 from $21 at B. Riley FBR
B. Riley FBR analyst Mayank Mamtani raised his price target for Dicerna Pharmaceuticals to $24 from $21 following the company's Q4 results and keeps a Buy rating on the shares. Balance sheet strength allows Dicerna to focus in two liver diseases, Mamtani tells investors in a research note.
https://thefly.com/landingPageNews.php?id=2877627
https://thefly.com/landingPageNews.php?id=2877627
RedHill Biopharma upgraded to Buy from Hold at WBB Securities
https://thefly.com/landingPageNews.php?id=2877633
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