Canaccord analyst Jason Mills raised his price target for CryoLife to $35 from $32 and maintained a Buy rating following the company’s “solid” Q1 results, telling investors that he sees a positive setup — for the firm and stock — going into an important, “transformative” period for CryLife, beginning in the second half of the year and continuing over the next few years. CryLife’s product pipeline positions the firm to deliver accelerating top-line growth, margin expansion and increasing profitability over the next 2-3 years that could potentially exceed management’s target of 7-9% top-line growth per year and 500bps of margin expansion over the next five years, Mills contends.
Wednesday, May 1, 2019
Iqvia reaffirms FY19 adjusted EPS view $6.20-$6.40, consensus $6.34
Backs revenue view $10.9B-$11.125B, consensus $11.02B. Backs adjusted EBITDA view $2.375B-$2.425B.
Exact Sciences price target raised to $130 from $110 at BTIG
BTIG analyst Sean Lavin raised his price target on Exact Sciences to $130 and kept his Buy rating after its Q1 revenue beat and a raise in FY19 outlook. The analyst notes that with nearly all metrics outperforming in the quarter, he sees “little risk to the current momentum”, and believes that the management’s marketing / salesforce ramps should continue to be productive and lead to beats throughout the year.
Haemonetics added to Franchise Picks list at Jefferies
Jefferies analyst Anthony Petrone added Haemonetics to his firm’s Franchise Picks list citing the recent pullback in the shares and his view that the company is still well positioned to see “substantial” earnings upside as the NexSys cycle plays out. He believes a stock price of $150-plus is likely over time and keeps a Buy rating on Haemonetics with a $125 price target.
Syros Pharmaceuticals plans to report data from Phase 1 trial of SY-1365 in Q4
Syros plans to report initial clinical data in the fourth quarter of 2019 from the expansion portion of its ongoing Phase 1 trial, including initial efficacy and safety assessments from the cohort evaluating SY-1365 as a single agent in high-grade serous ovarian cancer patients who have had three or more prior lines of therapy; initial safety and pharmacokinetic data from the cohort evaluating SY-1365 in combination with carboplatin in high-grade serous ovarian cancer patients who have had one or more prior lines of therapy; and initial safety, efficacy and mechanistic data from the cohort evaluating SY-1365 as a single agent in patients with advanced solid tumors accessible for biopsy. Syros expects to report additional data from these cohorts, including potential proof-of-concept data from the ongoing cohort in high-grade serous ovarian cancer patients who have had one or more prior lines of therapy, in 2020. Syros also expects to report potential proof-of-concept data from an ongoing cohort evaluating SY-1365 as a single agent in patients with relapsed ovarian clear cell cancer and initial data from an ongoing cohort in hormone receptor -positive CDK4/6 inhibitor-resistant breast cancer patients in 2020.
Syros Pharmaceuticals plans to complete studies of SY-5609 in 2019
Syros plans to complete investigational new drug-enabling studies of SY-5609 in 2019 to support the initiation of a Phase 1 oncology trial in early 2020.
Cantor reiterates Overweight on Evolus after ‘solid execution’ in Q1
Cantor Fitzgerald analyst Louise Chen says Evolus posted a quarter of “solid execution.” The analyst continues to think Jeuveau’s value proposition is underappreciated and that it will pick up more market share than anticipated. Ahead of what she expects to be a better than expected launch of Jeuveau, Chen reiterates an Overweight rating on Evolus with a $35 price target. , The U.S. and other launches should drive Evolus shares higher, says the analyst.
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