Posts tagged market perform
Leerink ups Dova to OP, price target to $32

Leerink upgraded for Dova Pharmaceuticals (NASDAQ:DOVA) to “outperform” from “market perform” and raised its price target to $32 from $24 after competitor, Shionogi, announced results from a Phase 3 trial. Shares of Dova closed at $22.45 on Sept. 25.

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WB starts PTC Therapeutics at MP

William Blair initiated coverage of PTC Therapeutics (NASDAQ:PTCT) with a “market perform” rating, citing a possibly tough road ahead for approval of the company’s ataluren in the U.S. The stock closed at $17.72 on Aug. 22.

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Leerink starts Dova at MP

Leerink initiated coverage of Dova Pharmaceuticals (NASDAQ:DOVA) with a “market perform” rating and a $24 price target. The stock closed at $22.75 on July 21.

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Leerink upgrades Achillion to OP

Leerink upgraded Achillion Pharmaceuticals (NASDAQ:ACHN) to “outperform” from “market perform” and raised its price target to $6 from $4. The stock closed at $3.78 on May 17.

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Analysts starts Tocagen at buy, MP

Analysts at Stifel and Leerink initiated coverage of Tocagen (NASDAQ:TOCA) with “buy” and “market perform” ratings, and price targets of $24 and $19, respectively. The stock closed at $17.40 on May 5.

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Leerink cuts Intra-Cellular Therapies to MP

Leerink downgraded Intra-Cellular Therapies (NASDAQ:ITCI) to “market perform” from “outperform” and slashed its price target to $10 from $29, following a corporate update highlighting an unusual preclinical safety concern for lumateperone (ITI-007), its atypical antipsychotic for the treatment of schizophrenia. The stock closed at $10.49 on May 1.

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Leerink ups Immunogen to OP from MP

Leerink upgraded Immunogen (NASDAQ:IMGN) to “outperform” from “market perform” and raised its price target to $8 from $2 based on a “higher level of conviction” on lead asset, mirvetuximab soravtansine, providing an attractive risk/reward in context of the stock's current valuation. The stock closed at $3.24 on April 18.

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Leerink downgrades Adocia to market perform

Leerink downgraded Adocia (NXT PA:ADOC.FP) to “market perform” and slashed its price target to €15.00 from €82.00 after Eli Lilly terminated its collaboration for Adocia’s ultra-fast insulin product, BioChaperone Lispro.

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WB cuts price target for aTyr Pharma to $4

illiam Blair slashed its price target for aTyr Pharma (NASDAQ:LIFE) to $4 from $8 but maintained its “market perform” rating after the company released data from three Phase 1/2 studies of Resolaris in rare muscle diseases. The stock closed at $2.80 on Dec. 13.

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WB downgrades Arrowhead Pharma to MP

William Blair downgraded Arrowhead Pharmaceuticals (NASDAQ:ARWR) to “market perform” from “outperform” and slashed its price target to $2 from $12. The stock closed at $4.39 on Tuesday.

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Leerink resumes coverage of T2 at market perform

Leerink resumed coverage of T2 Biosystems (NASDAQ:TTOO) with a “market perform” rating and $5 price target. The stock finished at $6.31 on Wednesday.

“While we view T2’s proprietary T2MR pathogen detection technology and large market opportunity favorably, we are inclined to stay on the sidelines until T2 delivers consistently on instrument placements and strings together a series of solid quarters in line with Street expectations,” writes analyst Puneet Souda.

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Leerink downgrades Imprivata to market perform

Leerink downgraded Imprivata (NYSE:IMPR) to “market perform” but upped its price target to $19.25 from $17 after the company entered into a definitive agreement to be acquired by an affiliate of Thoma Bravo, LLC, a private equity investment firm. The stock closed at $19.01 on Wednesday.

Shareholders will receive $19.25 in cash per share of Imprivata common stock, which is a 33% premium to Tuesday’s closing price of $14.50.

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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 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 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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