Healthcare Market Updates | BioTuesdays by Kilmer Lucas IR

Markets

Ladenburg lowers Allena Pharma PT to $13 from $23

Ladenburg Thalmann lowered its price target for Allena Pharmaceuticals (NASDAQ:ALNA) to $13 from $23 largely driven by an increase in the number of shares outstanding, assuming an equity financing. The stock closed at...

March 17, 2020

Markets

Echelon rates Correvio Pharma “tender” after takeover bid from ADVANZ Pharma

Echelon Wealth Partners moved its rating for Correvio Pharma (NASDAQ, TSX:CORV) to “tender” from “hold” after ADVANZ Pharma (TSX:ADVZ) agreed to acquire Correvio, which closed at 35 cents on March 17. Analyst Doug Loe...

March 17, 2020

Markets

SVB Leerink trims Mallinckrodt PT to $2 from $5

SVB Leerink lowered its price target for Mallinckrodt (NYSE:MNK) to $2 from $5, citing a number of changes to its model. The stock closed at $1.80 on March 16. Analyst Ami Fadia writes that her updated model reflects...

March 17, 2020

Markets

SVB Leerink starts Adverum Biotechnologies at OP; PT $17

SVB Leerink launched coverage of Adverum Biotechnologies (NASDAQ:ADVM) with an “outperform” rating and $17 price target. The stock closed at $10.33 on March 13. Adverum’s lead asset, ADVM-022, is in a Phase 1 trial as a...

March 16, 2020

Markets

BTIG cuts Senseonics to neutral; removes PT

BTIG downgraded Senseonics Holdings (NYSE American:SENS) to “neutral” from “buy” and removed its price target after the company released 2020 sales guidance of $15-million to $20-million, well below the Street’s $37...

March 13, 2020

Markets

SVB Leerink cuts Rubius Therapeutics to MP; TP to $4 from $19

SVB Leerink downgraded Rubius Therapeutics (NASDAQ:RUBY) to “market perform” from “outperform” and slashed its price target to $4 from $19 after the company discontinued development of RTX-134 for the treatment of...

March 13, 2020

Markets

BTIG cuts ViewRay to neutral and removes PT

BTIG downgraded ViewRay (NASDAQ:VRAY) to “neutral” from “buy” and removed its price target after the company’s 2020 revenue guidance of $58-million to $95-million was “well below even the lowest Street estimates.” The...

March 13, 2020

Markets

Raymond James sees Profound Medical insulated from COVID-19 fallout

Raymond James reiterated that Profound Medical (TSX:PRN; NASDAQ:PROF) remains its “analyst current favorite” and “2020 Best Pick,” saying Profound is “particularly insulated from the current economic fallout of COVID-19...

March 12, 2020

Markets

BTIG ups Castle Biosciences PT to $41 from $32

BTIG raised its price target for Castle Biosciences (NASDAQ:CSTL) to $41 from $32 after the company reported fourth quarter results and initial revenue guidance for 2020. The stock closed at $29.36 on March 10. Castle...

March 11, 2020

Markets

HCW halves Tracon Pharma PT to $6 from $13

H.C. Wainwright slashed its price target for Tracon Pharmaceuticals (NASDAQ:TCON) to $6 from $13, but reiterated its “buy” rating, after the company and partner, Santen Pharmaceutical, discontinued development of DE-122...

March 10, 2020

Markets

HCW starts electroCore at buy; PT $2

H.C. Wainwright initiated coverage of electroCore (NASDAQ:ECOR) with a “buy” rating and $2 price target. The stock closed at 65 cents on March 9. electroCore is commercializing its lead product, gammaCore, the only FDA...

March 10, 2020

Markets

HCW starts Corvus Pharma at buy; PT $10

H.C. Wainwright launched coverage of Corvus Pharmaceuticals (NASDAQ:CRVS) with a “buy” rating and $10 price target. The stock closed at $2.72 on March 9. Corvus is focused on developing precision medicines to treat...

March 10, 2020

Markets

HCW slashes Eloxx Pharma PT to $3 from $10

H.C. Wainwright slashed its price target for Eloxx Pharmaceuticals (NASDAQ:ELOX) to $3 from $10 and retained its “neutral” rating, saying the strength of the company’s ELX-02 program in cystic fibrosis is yet to be...

March 6, 2020

Markets

SVB Leerink starts Osmotica Pharma at OP; PT $10

SVB Leerink launched coverage of Osmotica Pharmaceuticals (NASDAQ:OSMT) with an “outperform rating” and $10 price target. The stock closed at $5.47 on March 5. Analyst Ami Fadia writes that her rating is based on the...

March 6, 2020

Markets

Stifel starts Precision Biosciences at buy; PT $21

Stifel initiated coverage of Precision Biosciences (NASDAQ:DTIL) with a “buy” rating and $21 price target. The stock closed at $8.11 on March 4. “Our positive thesis is predicated on optimism that Precision’s allogeneic...

March 5, 2020

Markets

Maxim cuts Co-Diagnostics to hold; removes PT

Maxim Group downgraded Co-Diagnostics (NASDAQ:CODX) to “hold” from “buy” and removed its price target, reflecting a meteoric rise in the company’s stock price in 2020. The stock closed at $17.81 on March 2. Analyst...

March 3, 2020

Markets

BTIG starts Avita Medical at buy; PT $10

BTIG launched coverage of Avita Medical (NASDAQ:RCEL) with a “buy” rating and $10 price target. The stock closed at $8.32 on March 2. Avita’s RECELL system produces a suspension of spray-on-skin cells using a small...

March 3, 2020

Markets

Echelon ups Extendicare to buy; holds PT at $9

Echelon Wealth Partners upgraded Extendicare (TSX:EXE) to “buy” from “hold” but kept its price target at $9 after the company reported fourth quarter results. The stock closed at $7.85 (Canadian) on March 2. Analyst...

March 3, 2020

Markets

Mackie cuts Medexus Pharma to speculative buy; PT to $8.70 from $10.50

Mackie Research downgraded Medexus Pharmaceuticals (TSXV:MDP; OTCQB:PDDPF) to “speculative buy” from “buy” and lowered its price target to $8.70 (Canadian) from $10.50 after the company acquired Ixinity, a recombinant...

March 2, 2020

Markets

BTIG cuts IMV PT to $5 from $8

BTIG lowered its price target for IMV (NASDAQ, TSX:IMV) to $5 from $8, citing uncertainty about data from the company’s ongoing Phase 2 study of DPX-Survivac in patients with advanced recurrent ovarian cancer. The stock...

February 28, 2020

Markets

Dawson James cuts Adamis Pharma to neutral from buy; suspends PT

Dawson James Securities downgraded Adamis Pharmaceuticals (NASDAQ:ADMP) to “neutral” from “buy” and suspended its price target, citing a recent financing that “took us by surprise.” The stock closed at 57 cents on Feb...

February 27, 2020

Markets

WB starts Precision BioSciences at buy; fair value estimate $20

William Blair launched coverage of Precision BioSciences (NASDAQ:DTIL) with an “outperform” rating and fair value estimate of $20. The stock closed at $8.01 on Feb. 24. Precision has pioneered the development of its...

February 25, 2020

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