Posts tagged Leerink Partners
Leerink resumes coverage of Kura at outperform

Leerink resumed coverage of Kura Oncology (NASDAQ:KURA) with an “outperform” rating and $15 price target. The stock closed at $5.60 on Wednesday.

“We view Kura's lead pipeline program, tipifarnib (a farnesyltransferase inhibitor) as a safe and active drug,” writes analyst Jonathan Chang.

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Leerink starts Endologix at market perform

Leerink Partners initiated coverage of Endologix (NASDAQ:ELGX) with a “market perform” rating and $13 price target. The stock closed at $12.22 on Friday.

Endologix is the largest abdominal aortic aneurysm (AAA) pure play and holds the No. 4 position in the $1.5-billion worldwide AAA market.

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Leerink upgrades Cardiovascular Systems

Leerink Partners upgraded Cardiovascular Systems (NASDAQ:CSII) to “outperform” and raised its price target to $30 from $23. The stock closed at $22.60 on Friday.

“Now with two solid quarters in a row of stable-to-improving growth and a new CEO in place, we believe the company has reached a fundamental inflection point after several quarters of underperformance in light of sales force disruptions and poor execution,” writes analyst Danielle Antalffy.

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Leerink downgrades Mirna to market perform

Leerink Partners downgraded Mirna Therapeutics (NASDAQ:MIRN) to “market perform” from “outperform” and lowered its price target to $4 from $10, citing added uncertainties around the development path and safety profile of lead product candidate, MRX34. The stock closed at $3.95 on Tuesday.

“While microRNAs represent an intriguing emerging new class of therapeutic targets, recent company updates render us more cautious on the prospects for Mirna shares,” writes analyst Michael Schmidt.

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Leerink upgrades Intellia Therapeutics to outperform

Leerink Partners upgraded Intellia Therapeutics (NASDAQ:NTLA) to “outperform” from “market perform” on valuation, with a price target of $32. The stock closed at $17.66 on Thursday.

“We believe the current valuation, close to the mid-point of the IPO range of $16-$18, represents an attractive entry point to own one of the most exciting technology platforms biotech has to offer,” writes analyst Michael Schmidt.

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Leerink starts Axovant Sciences at outperform

Leerink Partners has launched coverage of Axovant Sciences (NYSE MKT:AXON) with an “outperform” rating and $22 price target. The stock closed at $13.15 on Monday.

“We see Axovant as a compelling risk/reward play with three key shots on goal for lead products: RVT-101 (5HT6 antagonist) and nelotanserin (5HT2a inverse agonist), and see long-term upside to the stock if just one of these – Alzheimer’s Disease (AD), Dementia with Lewy Bodies, or hallucinations in DLB/Parkinson’s Disease Dementia – were to succeed,” writes analyst Paul Mattels.

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Leerink downgrades Epirus Biopharma to market perform

Leerink Partners has downgraded Epirus Biopharmaceuticals (NASDAQ:PRS) to “market perform” from “outperform” and slashed its price target to 75 cents from $10. The stock closed at 78 cents on Friday.

Analyst Jason Gerberry writes that the downgrades follows a change in senior management, suspension of Eprius’ lead program and a strategic change to prioritize the company’s rare disease biosimilars, which are currently in preclinical development.

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Leerink starts American Renal at outperform

Leerink Partners has launched coverage of American Renal Associates (NYSE:ARA) with an “outperform” rating and $33 price target. The stock closed at $27.71 on Friday.

“Our positive thesis contemplates a forward adjusted EBITDA (excluding non-controlling interest) growth rate of 13% (2015-2019 estimated CAGR) and is based on three growth pillars,” writes analyst Ana Gupte.

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Leerink downgrades Sarepta to under perform

Leerink has downgraded Sarepta Therapeutics (NASDAQ:SRPT) to “under perform” and slashed its price target to $5 from $13. The stock closed at $17.92 on Monday.

Sarpeta has been a confounding stock for which to forecast each twist and turn, but now going into the PDUFA of May 26, 2016, we believe investors have the most information yet available to ascertain investability in Sarepta,” writes analyst Joseph Schwartz.

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Leerink downgrades Trovagene to market perform

Leerink Partners has downgraded Trovagene (NASDAQ:TROV) to “market perform” from “outperform” and lowered its price target to $4.50 from $8, following the recent removal/departure of key senior management. The stock closed at $4.73 on Monday.

“While we remain intrigued by Trovagene’s opportunity in liquid biopsy, a large part of our investment thesis rested on the odds that Trovagene’s leadership could successfully execute on this opportunity,” writes analyst Dan Leonard. “We believe the announced leadership transitions could prove disruptive.”

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Leerink starts Depomed at outperform

Leerink Partners has initiated coverage of Depomed (NASDAQ:DEPO) with an “outperform” rating and $21 price target. The stock closed at $14.62 on Wednesday.

“Depomed’s Nucynta for chronic pain provides a differentiated and durable growth asset, and we expect shares to appreciate over the next 12 months, driven by a Nucynta patent settlement and continued acceleration of script trends,” writes analyst Jason Gerberry.

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Leerink downgrades Carbylan to market perform

Leerink Partners has downgraded Carbylan Therapeutics (NASDAQ:CBYL) to “market perform” from “outperform” and slashed its price target to $1.83 from $15 after the company reported a disappointing Phase 3 readout for Hydros-TA in the COR 1.1 trial. The shares were down 46% to $1.33 in after-market trading on Monday.

The company’s lead program, Hydros-TA, is a hyaluronic acid (HA) plus steroid combination product for the treatment of symptoms associated with knee osteoarthritis.

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