Riding the Next Wave

No, we’re not talking about the north coast of Maui but rather a new research platform from long-time biotech analyst David Martin of Dundee Securities. “If I’m going to recommend that investors own a basket of biotech stocks, it makes sense that I ought to initiate on a basket of stocks rather than make one-off [...]

Dundee reinstates buy on Cardiome

Reflecting new Phase 3 data from Cardiome Pharma (TSX:COM; NASDAQ:CRME) and Merck (NYSE:MRK) on Friday, Dundee Securities reinstated its “buy” rating on Cardiome, raising its 12-month price target to $10 from $8.  The stock closed at $8.24 on the TSX Friday. Analyst David Martin writes that he previously had the stock “under review,” pending the [...]

Analysts cut Labopharm price targets on marketing deal

After weighing the pros and cons of Labopharm’s joint venture marketing accord with Italy’s Gruppo Angelini, Dundee Securities and Versant Partners cut their price targets on “buy-rated” Labopharm (TSX: DDS; NASDAQ: DDSS), with Dundee moving the target down to $2.40 from $3 and Versant down to $2.50 from $3. Dundee analyst David Martin cited “increased [...]

Dundee moves OncoGenex to “buy”

Noting that OncoGenex (NASDAQ:OGXI) is trading at a substantial discount to comparable Phase 2 and 3 oncology companies, Dundee Securities upgraded the stock to “buy, speculative risk” from “neutral,” but maintained its 12-month price target of $25.40 (U.S.).  The stock finished at $20.38 on Thursday. Analyst David Martin writes that the stock remains below levels [...]

Labopharm’s new antidepressant to be ‘game-changer’

It’s game on for Labopharm (TSX:DDS; NASDAQ:DDSS). By February 11, the FDA is expected to approve the company’s antidepressant trazodone, a novel once-daily formulation that addresses many of the shortcomings of similar drugs on the market.  “I think it’s fair to say this drug could be a game-changer for us,” CEO James Howard-Tripp says in [...]

Waiting on Protox Phase 2b clinical results

Dundee Capital Markets says upcoming Phase 2b clinical results from Protox Therapeutics (TSX:PRX) may validate its prostate-targeted bacterial toxin PRX302 in men with benign prostate hyperplasia (BPH). In a New Idea of Interest, analyst David Martin writes that prior Phase 2a data supports the drug’s positive profile compared with leading minimally invasive therapies and BPH [...]

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