Analyst action, April 8

Bionano Genomics (NASDAQ:BNGO) initiated with an Outperform rating and a $1.50 (443% upside) price target at Oppenheimer. Shares up 19% premarket.

NovoCure (NASDAQ:NVCR) initiated with an Overweight rating and a $85 (32% upside) price target at Piper Sandler.

Regeneron Pharmaceuticals (NASDAQ:REGN) initiated with a Hold rating at Benchmark.

Varian Medical Systems (NYSE:VAR) initiated with an Overweight rating and a $126 (18% upside) price target at Piper Sandler.

DENTSPLY SIRONA (NASDAQ:XRAY) upgraded to Outperform with a $49 (29% upside) price target at Baird. Shares up 1% premarket.

Molina Healthcare (NYSE:MOH) upgraded to Buy with a $171 (22% upside) price target at Bank of America.

NuVasive (NASDAQ:NUVA) upgraded to Outperform with a $66 (31% upside) price target at Baird.

Omega Healthcare Investors (NYSE:OHI) upgraded to Sector Outperform at Scotiabank.

Sage Therapeutics (NASDAQ:SAGE) downgraded to Neutral at Guggenheim. Shares down 1% premarket after its announced job cuts.

https://seekingalpha.com/news/3559236-bofa-likes-molina-healthcare-in-premarket-analyst-action

Keros Therapeutics prices IPO at $16

Keros Therapeutics (KROS) has priced its initial public offering (IPO) of 6M common shares at $16.00/share, for gross proceeds of $96M.

Underwriters’ over-allotment is an additional 900,000 shares.

Closing date is April 13.

Trading kicks off today.

https://seekingalpha.com/news/3559243-keros-therapeutics-prices-ipo-16

Centene and Roche launch COVID-19 initiatives

Centene (NYSE:CNC) has launched a provider support program to help network providers who are seeking benefits from the Small Business Administration through the CARES Act. The dedicated online portal enables provides to research benefits that they may be eligible for and work directly with experts to apply for them. It will also provide resources to help providers with grant writing and loan applications.

Roche’s (OTCQX:RHHBY) Canadian unit has launched the Roche Data Science Coalition, a group of public and private organizations, aimed at developing solutions to the challenges of the COVID-19 pandemic. The Coalition has developed a centralized location for curated publicly available population datasets from around the world that will be used to enhance research. It is also developing a patient self-assessment tool to anyone can use who suspects that they are infected or have been diagnosed.

https://seekingalpha.com/news/3559252-centene-and-roche-launch-covidminus-19-initiatives

N-95 Mask-maker Alpha Pro Tech surges after booking 62% order growth

Alpha Pro Tech, Ltd. (NYSEMKT:APT) pops 16% pre-market after disclosing orders for its proprietary N-95 Particulate Respirator face mask rose 62% from March 11, adding $14.1 million to its March 11 total.

APT has seen “exponential increases” in near-term and long-term purchase orders that extend beyond Q3 2020 and 1H 2021. Alpha Pro has also seen a “significant increase” in face shield products, with orders reaching $11.6 million since Jan. 27.

NOTE: APT has booked quarterly revenue in the range of $7-8 million for the past 7 quarters. 

Affirms expectations to ramp up its phase 1 face mask production by early May, and cautions that its JV in India to produce other disposable protective apparel is under a Government mandated shutdown and the co. will seek other measures.

https://seekingalpha.com/news/3559256-nminus-95-mask-maker-alpha-pro-tech-surges-after-booking-62-order-growth

Myriad Genetics pulls guidance amid COVID-19 headwinds

Citing COVID-19 disruptions, Myriad Genetics (NASDAQ:MYGN) has withdrawn its 2020 guidance. Shares down 2% premarket.
https://seekingalpha.com/news/3559268-myriad-genetics-pulls-guidance-amid-covidminus-19-headwinds

Pacific Bio up 11% on use of sequencing technology in COVID-19

Pacific Biosciences of California (NASDAQ:PACB) announces that it is working with commercial, academic and government research teams investigating SARS-CoV-2 citing the highly accurate long leads produced by its Single Molecule, Real-Time (SMRT) Sequencing technology that can be used to resolve variants of the virus that exist within one individual or across a population of patients, essential for developing and maintaining effective diagnostics, vaccines and medicines.

It is collaborating with LabCorp (NYSE:LH) sequencing a large number of SARS-CoV-2 viruses from positive samples. LH scientists will use the data to inform in virus evolution, mutations found in different geographic regions and implications for disease severity and outcomes, helping to support more informed patient treatment decisions.

Shares up 11% premarket on light volume.

https://seekingalpha.com/news/3559297-pacific-bio-up-11-on-use-of-sequencing-technology-in-covidminus-19

Lannett to meet with FDA on biosimilar insulin

Lannett Company (NYSE:LCI) is set to meet with the FDA on June 9, 2020 to plan the next steps for the clinical advancement of its biosimilar insulin glargine partnered product candidate.

Insulin glargine is used to treat adults with Type 2 diabetes, as well as adults and pediatric patients with Type 1 diabetes.

https://seekingalpha.com/news/3559302-lannett-to-meet-fda-on-biosimilar-insulin