Healthcare Market Updates | BioTuesdays by Kilmer Lucas IR

Markets

Analysts downgrade Accolade on lower 2023 guidance; loss of client

Analysts for SVB Securities and BTIG downgraded Accolade (NASDAQ:ACCD) after the company reduced the growth of its fiscal 2023 guidance to 15% year-over-year from 25% and the loss of Comcast as Accolade’s flagship...

April 29, 2022

Markets

BTIG ups Acutus Medical to buy; PT $2

BTIG upgraded Acutus Medical (NASDAQ:AFIB) to “buy” from “neutral” with a price target of $2, after the company announced a debt refinancing and the sale of its left-heart access product portfolio that should extend its...

April 27, 2022

Markets

SVB starts Opthea at OP; PT $25

SVB Securities launched coverage of Opthea (NASDAQ:OPT) with an “outperform” rating and $25 price target. The stock closed at $5.71 on April 25. Opthea is a clinical-stage biotechnology company focused on developing...

April 26, 2022

Markets

Maxim starts Processa Pharma at buy; PT $9

Maxim Group initiated coverage of Processa Pharmaceuticals (NASDAQ:PCSA) with a “buy” rating and $9 price target. The stock closed at $2.87 on April 18. Processa is a clinical-stage company developing therapies for...

April 19, 2022

Markets

SVB Leerink starts AN2 Therapeutics at OP; PT $27

SVB Leerink launched coverage of AN2 Therapeutics (NASDAQ:ANTX) with an “outperform” rating and price target of $27. The stock closed at $14.79 on April 18. AN2 is a clinical-stage biotech company developing therapies...

April 19, 2022

Markets

BTIG ups Biodesix PT to $17 from $10

BTIG raised its price target for Biodesix (NASDAQ:BDSX) to $17 from $10, saying “performance this year should restore investor confidence.” The stock closed at $1.61 on April 14. Analyst Sung Ji Nam writes that the...

April 15, 2022

Markets

BTIG starts Graphite Bio at buy; PT $18

BTIG initiated coverage of Graphite Bio (NASDAQ:GRPH) with a “buy” rating and price target of $18. The stock closed at $4.15 on April 13. “We believe Graphite Bio’s homology directed repair technology platform...

April 14, 2022

Markets

Cantor starts Alpha Tau Medical at OW; PT $20

Cantor Fitzgerald launched coverage of Alpha Tau Medical (NASADQ:DRTS) with an “overweight” rating and $20 price target. The stock closed at $10.58 on April 13. Alpha Tau, which went public in March 2022, is a medical...

April 14, 2022

Markets

Maxim starts Synaptogenix at buy; PT $14

Maxim Group launched coverage of Synaptogenix (NASDAQ:SNPX) with a “buy” rating and price target of $14. The stock closed at $7.03 on April 11. Synaptogenix, formerly Neurotrope, is continuing development of bryostatin...

April 12, 2022

Markets

HCW starts Syndax Pharma at buy; PT $31

H.C. Wainwright initiated coverage of Syndax Pharmaceuticals (NASDAQ:SNDX) with a “buy” rating and $31 price target. The stock closed at $17.51 on April 8. Syndax is a clinical-stage biopharmaceutical company focused on...

April 11, 2022

Markets

Dawson James halves Dyadic PT to $3

Dawson James halved its price target for Dyadic International (NASDAQ:DYAI) to $3 from $6, citing the company’s C1 platform and whether it will be adopted by a major vaccine maker anytime soon. The stock closed at $2.48...

April 8, 2022

Markets

Maxim cuts Agile Therapeutics to hold; removes PT

Maxim Group downgraded Agile Therapeutics (NASDAQ:AGRX) to “hold” from “buy” and removed its price target, citing a financing overhang. The stock closed at 16 cents on April 7. Analyst Naz Rahman writes that Agile ended...

April 8, 2022

Markets

Cantor assumes coverage of SI-BONE at OW; PT $34 down from $41

Cantor Fitzgerald analyst Ross Osborn assumed coverage of SI-BONE (NASDAQ:SIBN) with an “overweight” rating and price target of $34. The stock closed at $21.28 April 6. SI-BONE is a medical device company that...

April 7, 2022

Markets

BTIG starts Gracell at buy; PT $18

BTIG initiated coverage of Gracell Biotechnologies (NASDAQ:GRCL) with a “buy” rating and $18 price target, “with upside potential driven by value inflection points in the next 12-to-24 months.” The stock closed at $2.33...

April 4, 2022

Markets

Analysts downgrade Silverback; two oncology programs discontinued

Analysts for H.C. Wainwright and SVB Leerink downgraded Silverback Therapeutics (NASDAQ:SBTX) after the company discontinued two leading oncology programs. The stock closed at $3.21 on April 1. The company discontinued...

April 1, 2022

Markets

Cantor cuts Akebia to neutral from OW; PT to $1 from $6

Cantor Fitzgerald downgraded Akebia Therapeutics (NASDAQ:AKBA) to “neutral” from “overweight” and slashed its price target to $1 from $6 after the company received a complete response letter in response to the NDA for...

March 31, 2022

Markets

Maxim lowers Ayala Pharma PT to $12 from $22

Maxim Group reduced its price target for Ayala Pharmaceuticals (NASDAQ:AYLA) to $12 from $22, but maintained a “buy” rating, after the company discontinued the Phase 2 TENANCITY trial evaluating AL101 in triple negative...

March 30, 2022

Markets

AGP cuts ReShape Lifesciences PT to $5.50 from $10.25

Alliance Global Partners slashed its price target for ReShape Lifesciences (NASDAQ:RSLS) to $5.50 from $10.25 but maintained its “buy” rating, citing the company’s fourth quarter results. The stock closed at $1.35 on...

March 29, 2022

Markets

Analysts reduce MEI Pharma PTs; Stifel cuts MEI to hold from buy

Stifel downgraded MEI Pharma (NASDAQ:MEIP) to “hold” from “buy” and reduced its price target to $2 from $6 after the FDA discouraged a regulatory filing based on single-arm Phase 2 TIDAL study data, despite previous...

March 25, 2022

Markets

Maxim starts Longeveron at buy; PT $14

Maxim Group initiated coverage of Longeveron (NASDAQ:LGVN) with a “buy” rating and $14 price target. The stock closed at $6.52 on March 23. Longeveron is developing a medicinal signaling cell therapy, Lomecel-B, for...

March 24, 2022

Markets

Maxim starts HCW Biologics at buy; PT $4

Maxim Group initiated coverage of HCW Biologics (NASDAQ:HCWB) with a “buy” rating and price target of $4. The stock closed at $2.28 on March 23. HCW Biologics is addressing inflammaging; the chronic, sterile, low-grade...

March 24, 2022

Markets

HCW starts BioAtla at buy; PT $25

H.C. Wainwright launched coverage of BioAtla (NASDAQ:BCAB) with a “buy” rating and $25 price target. The stock closed at $5.77 on March 18. BioAtla is a clinical-stage biopharmaceutical company developing novel...

March 21, 2022

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