Healthcare Market Updates | BioTuesdays by Kilmer Lucas IR

Markets

Ladenburg ups Novavax PT to $24 from $16

Ladenburg Thalmann raised its price target for Novavax (NASDAQ:NVAX) to $24 from $16 after the company reported impressive pivotal results with its lead asset, NanoFlu. The stock closed at $12.77 on March 24. Analyst...

March 25, 2020

Markets

Stifel starts Molecular Templates at buy; PT $19

Stifel initiated coverage of Molecular Templates (NASDAQ:MTEM) with a “buy” rating and $19 price target. The stock closed at $13.29 on March 24. “We believe the engineered toxin body technology from which Molecular’s...

March 25, 2020

Markets

Roth starts Immunic at buy; PT $44

Roth Capital Partners launched coverage of Immunic (NASDAQ:IMUX) with a “buy” rating and $44 price target. The stock closed at $5.74 on March 24. Immunic is focused on developing innovative new modulators of the immune...

March 25, 2020

Markets

Mackie Research ups Profound Medical to speculative buy

Mackie Research upgraded Profound Medical (TSX:PRN; NASDAQ:PROF) to “speculative buy” from “hold,” but reduced its price target to $16.20 from $26.10 due to the anticipated impact of the coronavirus. The stock closed at...

March 24, 2020

Markets

Analysts see strong rationale for Hepion CRV431’s use in severe COVID-19 cases

Hepion Pharmaceuticals’ (NASDAQ:HEPA) CRV431, a cyclophilin inhibitor with antifibrotic and antiviral properties, may show some effect in the ongoing COVID-19 pandemic, according to Roth Capital Partners and Brookline...

March 20, 2020

Markets

Stifel cuts DBV Technologies to hold; PT to $6 from $18

Stifel downgraded DBV Technologies (NASDAQ:DBVT) to “hold” from “buy” and slashed its price target to $6 from $18 after the FDA raised questions about DBV’s Viaskin Peanut’s efficacy, including the impact of patch...

March 17, 2020

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

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