Lilly issues positive update on Taltz

Eli Lilly (NYSE:LLY) presents data at the 5^th Annual Maui Derm NP+PA Fall meeting from its Phase 4 IXORA-R study.

The company says Taltz met the primary endpoint of superiority vs. TREMFYA in the proportion of patients with moderate to severe plaque psoriasis achieving complete skin clearance as measured by PASI 100 at week 12.

The results demonstrated that Taltz was effective in helping more patients achieve completely clear skin by Week 12, with a 50 percent improvement in skin plaques seen as early as Week 1.

The study is ongoing through week 24.

Source: Press Release

https://seekingalpha.com/news/3503655-eli-lilly-issues-positive-update-taltz

Analysts cautiously optimistic after Veeva event

Morgan Stanley maintains an Equal-Weight rating on Veeva Systems (NYSE:VEEV) but raises the target from $150 to $154.

The firm left the analyst day event “confident in having new visibility in the longer-term trajectory.”

Morgan sees “a long runway of growth,” which is priced in at this level. The firm notes that while VEEV’s 2025 target for operating margins was below Morgan’s expectations, that was a case of management “being typically conservative and leaving themselves room to make opportunistic investments.”

More action: Canaccord Genuity (Hold, $155) says the event “reinforced many of the positive attributes that underpin our favorable view of the firm’s fundamentals.”

VEEV shares closed yesterday down 2.5% to $151.06. The company has an Outperform average Sell Side rating.

https://seekingalpha.com/news/3503664-analysts-cautiously-optimistic-veeva-event

HC Wainwright joins bull party on Blueprint Medicines

HC Wainwright starts off coverage on Blueprint Medicines (NASDAQ:BPMC) with a Buy rating.

The firm’s price target of $100 reps 37% upside for shares, but still stands below the 52-week high for Blueprint of $102.98 and consensus sell-side PT of $109.58.

https://seekingalpha.com/news/3503667-hc-wainwright-joins-bull-party-blueprint-medicines

Summit Therapeutics up on positive ridinilazole data in clostridium

Summit Therapeutics (NASDAQ:SMMT) is up 17% premarket on  announcing results from the Phase 2 clinical trial of ridinilazole in C. difficile infection (‘CDI’) detailing improvements in patient quality of life following antibiotic treatment for CDI.

The trial evaluated ridinilazole compared to vancomycin in 100 patients.

The number of patients treated with ridinilazole reporting problems in this measure decreased throughout the timepoints.

At Day five, patients treated with ridinilazole reported significant improvements in index scores (p=0.008).

By Day 10, numerically fewer patients treated with ridinilazole reported issues than those treated with vancomycin.

Overall, statistically significant improvements were observed in physical and mental health measures.

https://seekingalpha.com/news/3503671-summit-therapeutics-17-percent-premarket-positive-ridinilazole-data-cdi-patients

Brookdale calls activist investor’s nominee ‘unfit’ for board

In a letter to its shareholders, Brookdale Senior Living (NYSE:BKD) calls Land & Buildings’ nominee for its board, Jay Flaherty, “unfit to serve on the board” and says he could endanger Brookdale’s relationships with its largest landlords.

Urges shareholders to vote for its nominees — Victoria Freed and Guy Sansone — at the company’s annual meeting on Oct. 29, 2019.

Notes that Glenview Capital Management, its largest stockholder, has endorsed both of Brookdale’s nominees.

Says the company has tried to come to an agreement with Jonathan Litt’s Land & Buildings, but, “at every turn, Land & Buildings has declined our proposals.”

Previously: Investor Litt urges split of Brookdale into REIT and senior housing operator; shares up 2% (Nov. 30, 2018)

https://seekingalpha.com/news/3503718-brookdale-calls-activist-investors-nominee-unfit-board

Frequency Therapeutics prices initial public offering

Frequency Therapeutics (NASDAQ:FREQ) has priced its initial public offering of 6M shares of common stock at $14.00 per share, for total gross proceeds of ~$84M.

Underwriters over-allotment is an additional 900K shares.

The company’s common stock is expected to begin trading today on the Nasdaq Global Select Market and the offering is expected to close on October 7.

Previously: Frequency Therapeutics sets IPO terms (Sept. 23)

https://seekingalpha.com/news/3503644-frequency-therapeutics-prices-initial-public-offering

AngioDynamics EPS beats by $0.04, misses on revenue

AngioDynamics (NASDAQ:ANGO): Q1 Non-GAAP EPS of $0.08 beats by $0.04; GAAP EPS of -$0.03 beats by $0.09.

Revenue of $66.04M (+3.3% Y/Y) misses by $1.7M.

Press Release

https://seekingalpha.com/news/3503647-angiodynamics-eps-beats-0_04-misses-revenue