Posts tagged outperform rating
Leerink starts Protagonist Therapeutics at outperform

Leerink Partners launched coverage of Protagonist Therapeutics (NASDAQ:PTGX) with an “outperform” rating and $17 price target in 12 months. The stock closed at $12.08 on Friday.

Protagonist is aiming to become the standard of care therapy for moderate-to- severe irritable bowel disease (IBD) patients, a large and growing market opportunity.

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Analysts start Tactile Systems at buy, outperform

Analysts at BTIG Research, Piper Jaffray and William Blair initiated coverage of Tactile Systems Technology (NASDAQ:TCMD) with “buy,” “overweight” and “outperform” ratings, respectively.

Tactile makes pneumatic compression devices (PCD) to treat lymphedema, along with a chronic venous leg ulcer product. Tactile closed an IPO of 4,120,000 shares at $10 apiece earlier this month. The stock was changing hands at $12.98 at mid-day Monday.

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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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WB starts 4 chronic Hep B biotechs at outperform

William Blair initiated coverage at “outperform” of four biotech companies that are strategically positioned to benefit from the hepatitis B virus frontier.

“Curing chronic hepatitis B infections is the next frontier after solving the hepatitis C problem, and the markets for both disease cures could be similar in size, reaching $200-billion each in cumulative global sales over a span of two decades,” writes analyst Katherine Xu.

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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 reiterates rating on Aurinia following trial results

Leerink reiterated its “outperform” rating on Aurinia Pharmaceuticals (NASDAQ:AUPH; TSX:AUP) after the reported top-line results with voclosporin in a Phase 2b clinical study in patients with active lupus nephritis.

Analyst Joseph Schwartz writes that the study met its primary endpoint of complete remission and improvements in partial remission versus placebo. While efficacy was higher among patients receiving the low-dose, the high-dose cohort also achieved meaningful improvements in partial remission.

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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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WB cuts Synthetic Biologics price target

William Blair lowered its price target for Synthetic Biologics (NYSE:SYN) to $7 from $10, citing potential delays to commercialize the company’s two programs. The stock closed at $1.67 on Wednesday.

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