Teva Pharmaceutical Industries provided an update that the company is discontinuing the clinical development program for use of fremanezumab in cluster headaches. A pre-specified futility analysis of a Phase III study in episodic cluster headache revealed that the study’s primary endpoint of mean change from baseline in the weekly average number of cluster headache attacks during the 4-week treatment period is unlikely to be met. As a result of the above, Teva is discontinuing the ENFORCE Phase III clinical trial program, which also includes a long-term safety study. The program previously included a chronic cluster headache study, which was discontinued in June of 2018. Teva continues to explore other uses for fremanezumab, including the treatment of post-traumatic headache.
Tuesday, April 23, 2019
Piper sees Q1 revenue upside for Inogen, Teleflex, Align Technology
Piper Jaffray analyst Matt O’Brien says his deep dive into the MedTech companies exploring the direct-to-consumer sales channel came up “most compelling” for Inogen (INGN), Teleflex (TFX) and Align Technology (ALGN). Website traffic at these companies is at or near three-year highs and historical trends suggest a high likelihood of revenue upside in Q1, O’Brien tells investors in a research note. The analyst also found DexCom’s (DXCM) website traffic to be at three-year highs.
https://thefly.com/landingPageNews.php?id=2895449
https://thefly.com/landingPageNews.php?id=2895449
Anthem initiated at UBS
Anthem initiated with a Buy at UBS. UBS analyst Whit Mayo started Anthem with a Buy rating and $294 price target. The analyst forecasts “industry-leading” 20% earnings growth through 2020. Current share levels price in negative long-term growth, resemble 2012-2013 sector discounts, and offer up a favorable 2.2:1 upside/downside, Mayo tells investors in a research note.
Cigna initiated at UBS
Cigna initiated with a Buy at UBS. UBS analyst Whit Mayo started with a Buy rating and $185 price target. Cigna has lost a third of its value since announcing the Express Scripts transaction in early 2018 and now trades at eight times estimated 2020 earnings, Mayo tells investors in a research note. The analyst believes the current valuation reflects an “overly harsh and economic unrealistic view.”
Humana initiated at UBS
Humana initiated with a Neutral at UBS. UBS analyst Whit Mayo started Humana with a Neutral rating and $266 price target. Consensus estimates for 2020 seem too high, Mayo tells investors in a research note. The analyst believes multiple expansion for Humana will be “more challenging,” leaving the risk/reward at current levels “less compelling.” The positive Medicare Advantage environment is largely priced into the shares, says Mayo.
West Pharmaceutical initiated at William Blair
West Pharmaceutical initiated with an Outperform at William Blair. William Blair analyst John Kreger started West Pharmaceutical Services with an Outperform rating. West offers a packaging and containment play on biologics and injectables, Kreger tells investors in a research note.
https://thefly.com/landingPageNews.php?id=2895463
https://thefly.com/landingPageNews.php?id=2895463
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