Genfit initiated with an Overweight at Barclays. Barclays analyst Geoff Meacham started Genfit with an Overweight rating and $55 price target. Despite the challenges in nonalcoholic steatohepatitis, Genfit's pipeline offers "compelling opportunities," which creates an attractive risk/reward profile for the stock, Meacham tells investors in a research note.
https://thefly.com/landingPageNews.php?id=2895023
Monday, April 22, 2019
Thermo Fisher price target raised to $312 from $271 at Needham
Thermo Fisher price target raised to $312 from $271 at Needham. Needham analyst Stephen raised his price target on Thermo Fisher to $312 and kept his Strong Buy rating ahead of its Q1 results this Wednesday. The analyst sees “solid potential” for an earnings beat on “better-than-expected organic revenue growth in all four segments”, also noting that he has a “more bullish view” on the company’s prospects for 2019. Unger adds that he is positive on the impact of the “strategic” Brammer Bio acquisition announced by Thermo Fisher last month.
Precision BioSciences initiated at Jefferies
Precision BioSciences initiated with a Buy at Jefferies. Jefferies analyst Maury Raycroft started Precision BioSciences with a Buy rating and $25 price target. The analyst believes the company’s proprietary gene-editing technology and platform should provide long-term value.
Moleculin up ahead of conference call on ‘significant discovery’
Nano cap Moleculin Biotech (NASDAQ:MBRX) is up 8% premarket on increased volume in reaction to its announcement that it will host a conference call on Wednesday, April 24, at 4:30 pm ET to discuss its “significant discovery” for lung cancer, FDA Fast Track designation and recent corporate events.
Regional Health Properties Gains on Plan to Sell 4 Skilled Nursing Facilities
Regional Health Properties (NYSE: RHE) surged 138% in pre-open trade Monday after disclosing after the close Thursday (markets were closed Friday) that it agreed to sell 4 skilled nursing facilities for $28.5 million.
From the filing:
On April 15, 2019, certain wholly owned subsidiaries of Regional Health Properties, Inc. (collectively, “Seller”) entered into a Purchase and Sale Agreement (the “PSA”) with affiliates of MED Healthcare Partners LLC (collectively, “Buyer”) with respect to four (4) skilled nursing facilities owned by the Seller.
Subject to the terms and conditions of the PSA, the Seller agreed to sell, and the Buyer agreed to purchase, all of the Seller’s right, title and interest in: (a) that certain 182-bed skilled nursing facility commonly known as Attalla Health & Rehab located in Attalla, AL; (b) that certain 100-bed skilled nursing facility commonly known as Healthcare at College Park located in College Park, GA; (c) that certain 118-bed skilled nursing facility commonly known as Quail Creek Nursing & Rehabilitation Center located in Oklahoma City, OK; and (d) that certain 100-bed skilled nursing facility commonly known as Northwest Nursing Center located in Oklahoma City, OK (collectively, the “Facilities”). The Buyer’s obligation to complete such purchase and sale is subject to specified closing conditions, including a thirty (30) day due diligence period (the “Due Diligence Period”). During the Due Diligence Period, the Buyer may, in its sole and absolute discretion, terminate the PSA by written notice to the Seller for any reason or no reason and receive the return of its security deposit. The Due Diligence Period will expire on May, 15 2019, at 5:00 p.m. Eastern Time.
Alliqua up on merger with Adynxx
Thinly traded nano cap Alliqua BioMedical (NASDAQ:ALQA) is up 28% premarket on light volume on the heels of its agreement to execute a reverse merger with privately held Adynxx.
The combined company will do business as Adynxx and will trade on Nasdaq in “early 2019” (considering today’s date “early” appears to be a relative term). After the transaction is completed, Adynxx shareholders will own ~86% of the new organization while Alliqua stockholders will own ~14%.
Adynxx’s lead program is brivoligide, a non-opioid pain med. Two Phase 2 clinical trials in postoperative pain should launch soon with topline data from the first study (in patients undergoing knee replacement) expected in mid-2020 and the second (in patients undergoing mastectomy) later in 2020.
IND-enabling studies for its second product candidate, AYX2, also a non-opioid pain med, should launch in H2.
Bio-Techne and Elpiscience BioPharma announce strategic collaboration
Elpiscience BioPharma and Bio-Techne announced that the companies have entered into a strategic collaboration for the development of anti-cancer therapeutics. Under the terms of the agreement, Elpiscience will have access to multiple antibodies from Bio-Techne’s extensive product portfolio for use in the development of preclinical, clinical, and commercial biopharmaceuticals. The collaboration between Elpiscience and Bio-Techne will expand mutual capabilities in the field of cancer immunotherapy.
https://thefly.com/landingPageNews.php?id=2895135
https://thefly.com/landingPageNews.php?id=2895135
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