Trbovich joins C.K. Cooper’s healthcare research team

Ken Trbovich has joined C. K. Cooper & Co., a full-service investment bank, as a senior research analyst in the Healthcare Research Department. Mr. Trbovich has 15 years of equity research experience, including a decade on the sell side exclusively focused on companies in healthcare. Most recently, he spent five years as the U.S. specialty [...]

IMRIS prices $52.5 million offering

IMRIS (TSX:IM; NASDAQ:IMRS) priced a public offering of 10.5 million common shares at $5 (U.S.) a share to raise $52.5 million in connection with listing its shares on the NASDAQ Global Market. An additional 500,000 shares are being sold by a certain selling shareholder of IMRIS at the same price. Canaccord Genuity and Lazard Capital [...]

IMRIS to list on Nasdaq and sell stock

IMRIS (TSX:IM) has filed a registration statement as part of an IPO in the U.S. and has received conditional approval to list its common shares on the NASDAQ Global Market under the symbol IMRS. IMRIS proposes to offer 10 million common shares and certain selling shareholders propose to offer 3.7 million shares through a syndicate [...]

Oncolytics in $25 million bought deal

A group of underwriters have agreed to purchase 5.44 million units of Oncolytics Biotech (TSX:ONC; NASDAQ:ONCY) in a bought deal at a price of $4.60 each for total proceeds of about $25 million. Each unit consists of one common share and one-half of a warrant, with each whole warrant entitling the holder to buy an [...]

RBC ups MDS to outperform

Citing an improved outlook and enhanced supply of molybdenum-99, RBC Capital Markets has upgraded MDS (NYSE:MDZ; TSX:MDS) to “outperform” from “sector perform,” raising its target price to $14 (U.S.) from $10.50. Analyst Doug Miehm writes that MDS has exited a “difficult transitional period associated with asset divestitures,” which will soon be completed, has the National [...]

MDS buys back 44.1% of stock outstanding

MDS (TSX:MDS; NYSE:MDZ) has released results of its modified Dutch auction and will purchase for cancellation 52.9 million shares at a price of $8.50 (U.S.) each or $450 million. The shares represent 44.1% of the common stock currently outstanding, which will reduce the company’s shares outstanding to about 67.2 million.  RBC Capital Markets acted as [...]

RBC ups Theratechnologies to buy

Citing a recent sell-off and upcoming milestones, RBC Capital Markets upgraded Theratechnologies (TSX:TH) to “outperform” from “sector perform,” but kept its price target unchanged at $6.50.  The shares finished at $5.09 on Wednesday after touching a 52-week high of $5.61 earlier this month. “Theratechnologiesis in the enviable position of having a number of important upcoming [...]

RBC Capital Markets raises Paladin price target

Calling Paladin Labs’ (TSX:PLB) investment in Pharmaplan of South Africa an “attractive entrance into a new market,” RBC Capital Markets raised its 12-month price target on Paladin’s stock to $24 from $23. RBC rates the stock “outperform, above average risk.” Analyst Doug Miehm writes that Paladin paid $15.9 million for its initial 34.99% stake and [...]

AEterna’s missed Phase 3 gets ho-hum analyst reaction

Analysts are not surprised that Aeterna Zentaris’ cetrorelix drug candidate missed its primary endpoint in a Phase 3 clinical trial in Europe, matching the disappointing outcome of a similar pivotal trial in the U.S. earlier this year. RBC Capital Markets now expects AEterna (NASDAQ:AEZS; TSX:AEZ) to terminate the cetrorelix program and focus on its other [...]

RBC ups QLT to “outperform”

Calling QLT’s litigation settlement with Massachusetts General Hospital over Visudyne royalties “better than we had anticipated,” RBC Capital Markets upgraded QLT to “outperform” from “sector perform” and raised its target price to $6 (U.S.) from $4.50. The stock (NASDAQ: QLTI; TSX: QLT) finished trading at $4.50 on Wednesday. Analyst Doug Miehm writes that at the [...]

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