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Friday, May 3, 2019

Collegium Pharmaceutical initiated at H.C. Wainwright

Collegium Pharmaceutical assumed with a Buy at H.C. Wainwright. H.C. Wainwright analyst Oren Livnat assumed coverage of Collegium Pharmaceutical with a Buy rating and $23 price target. The analyst sees an “undervalued growth story” given the “depressed opioid sentiment.”
https://thefly.com/landingPageNews.php?id=2902967

Tilray upgraded to Hold from Underperform at Jefferies

Jefferies analyst Owen Bennett upgraded Tilray to Hold from Underperform while lowering his price target for the shares to $57 from $61.

Teva to present long-term efficacy, safety data on fremanezumab at AAN 2019

Teva Pharmaceutical Industries announced results from new long-term analyses of the efficacy and safety of fremanezumab, being presented at the 71st Annual Meeting of the American Academy of Neurology.The findings, presented across 13 abstracts at this year’s meeting, describe the primary and other key endpoints, as well as pooled and subgroup data from a 52-w eek, multicenter, randomized, double-blind, parallel group long-term extension study that evaluated fremanezumab in adults with migraine. The results presented include data on the efficacy of fremanezumab observed through 12 months of treatment in patients with migraine, including populations with inadequate responses to multiple classes of preventive medications, quality of life and the safety profile. In an analysis of the 1,110 patients included in the study with CM, those achieving greater than or equal to50 percent reduction in monthly average number of headache days of at least moderate severity at month 12 was 54 percent of patients in the quarterly dosing arm and 59 percent in the monthly dosing arm. Those achieving greater than or equal to50 percent reduction in monthly average number of migraine days at month 12 was 53 percent of patients in the quarterly dosing arm and 57 percent of patients in the monthly dosing arm. Additionally, patients with CM showed decreased use of any acute headache medication and improvements in disability that were observed through the one-year treatment period. An analysis of the 780 patients included in the study with EM demonstrated that patients achieving greater than or equal to50 percent reduction in migraine days at month 12 was 66 percent in the quarterly dosing arm and 68 percent in the monthly dosing arm. Similar response rates were observed for headache days of at least moderate severity. Similar to the results observed in CM patients, patients with EM also showed decreased use of any acute headache medication and improvements in disability that were observed through the one-year treatment period. Additionally, Teva conducted a post-hoc efficacy analysis of 813 patients with CM at baseline, of which 67 percent reverted to EM during the study period. In this subgroup, the average change in the monthly number of headache days of at least moderate severity from baseline to month 12 was -8.8 for the quarterly dosing arm and -8.5 for the monthly dosing arm. The mean change in the monthly number of migraine days from baseline to month 12 was -10.3 for quarterly and -10.4 for monthly. Overall, monthly headache days, migraine days and days of acute headache medication use decreased progressively from month six and through month 12 in both dosing groups. A safety analysis of all 1,890 patients enrolled in the one-year study demonstrated that the most common adverse events were injection-site reactions, which occurred in 26-33 percent of all patients. Four percent of patients discontinued due to adverse events. Teva also assessed whether patients in the quarterly dosing arm experienced any pattern of decreased efficacy during the third month after injection. In the analysis of 1,103 CM patients and 775 EM patients, outcomes with quarterly dosing of fremanezumab were comparable to outcomes with monthly dosing. The effect of fremanezumab on headache-related disability, quality-of-life and patient satisfaction in CM and EM patients was assessed using clinically validated questionnaires. Overall, long-term treatment with fremanezumab suggested potential improvements in disability and quality of life in patients with both CM and EM.

Planet Fitness price target raised to $85 from $75 at Jefferies

Jefferies analyst Randal Konik raised his price target for Planet Fitness (PLNT) to $85 from $75 saying the company reported “great” Q1 results with comps and margins ahead of consensus. However, the shares are trading lower due to elevated expectations, Konik tells investors in a research note. He continues to believe Planet Fitness’ investments in marketing, expanding affinity programs, increasing Black Card penetration, and membership growth resemble a business model similar to that of Amazon.com (AMZN). The analyst sees upside in the shares and reiterates a Buy rating on the name.

Jefferies says it’s time to own shares of Abiomed

Weakness in Abiomed’s fiscal Q4 had been well telegraphed but was still worse than expected, Jefferies analyst Raj Denhoy tells investors in a research note. However, he believes issues with Impella use are being addressed and points out that April saw an uptick from March. The company’s fiscal 2020 guidance of 17%-23% “seems doable,” adds Denhoy. He lowered his price target for the shares to $330 from $460 and keeps a Buy rating on the name. The analyst believes now is the time to own Abiomed.

LivaNova to present new data stressing Perceval valve durability at AATS

LivaNova announced that new clinical data for its sutureless surgical aortic valve, Perceval, will be unveiled at this year’s American Association for Thoracic Surgery meeting. On May 4, Prof. Bart Meuris from Leuven University Hospital will present the data from his center’s 11-year clinical experience with Perceval, which represents the longest clinical follow-up for the valve that has been published. The results demonstrate the strong performance of the Perceval valve both in terms of durability and outcomes, which reaffirm its position as a trusted platform. Of particular significance in the findings is the absence of explants due to structural valve deterioration, as well as the low rate of paravalvular leak reported. The retrospective, observational, single-center study included 468 consecutive patients implanted with Perceval between 2007 and 2017: Patient mean age was 79, mean EuroSCORE II was 5.0 and STS score was 5.8. The majority of the cases treated were all-comers, including emergencies. 55% of cases were conducted as part of concomitant procedures, while a high rate of the isolated aortic valve replacement cases was carried out through minimally invasive surgery.
https://thefly.com/landingPageNews.php?id=2903137

Athenex announces preliminary Oraxol data

Athenex announced preliminary data showing early clinical responses in the first part of a two part study of Oraxol monotherapy in patients with unresectable cutaneous angiosarcoma. To date, 10 patients have been enrolled in the clinical study, which is being conducted in four sites in the U.S. and Hong Kong. The first seven patients have received at least six weeks of treatment, which is the timepoint for the first response assessment; three patients have not yet reached the first assessment timepoint. Oraxol is being administered once daily for three consecutive days every week during the treatment period. All seven patients showed significant and visible reduction of the cutaneous angiosarcoma within one or two weeks of treatment. Three patients had complete responses based on Recist v1.1 criteria, with two complete responses occurring by six weeks of treatment. None of the patients enrolled have discontinued treatment due to death, disease progression, or adverse events. No peripheral neuropathy has been reported. Based on the preliminary data, the study has met the criteria required to proceed to full enrollment.