Posts tagged third quarter
Mackie ups Profound Medical price target to $4.40

Mackie Research Capital raised its price target for Profound Medical (TSX-V:PRN) to $4.40 from $3.30 after the company reported third quarter results. The stock closed at $1 on Thursday.

Analyst Andre Uddin writes that his new valuation is based on applying a multiple of 4.2 times enterprise value to sales on a 2019 sales estimate to $86-million, discounted back by 50%.

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Canaccord ups AtriCure price target to $23

Canaccord Genuity raised its price target for AtriCure (NASDAQ:ATRC) to $23 from $21 after the company reported third quarter results. The stock is trading at $17.74, up $2.54, at midday on Friday.

The third quarter represented “sentiment-changing results for an under-appreciated, under-valued, high margin med-tech growth story,” writes analyst Jason Mills. “Bottom line: buy this stock,” he added.

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HCW downgrades Agenus to neutral

H.C. Wainwright downgraded Agenus (NASDAQ:AGEN) to “neutral” from “buy” and slashed its price target to $5 from $10. The stock closed at $4.33 on Thursday.

Analyst Swayampakula Ramakanth writes that during Agenus’ third quarter earnings, the company announced development of CTLA-4 and PD-1 checkpoint modulators (CPMs) as the focus of the company’s cancer immunotherapy pipeline.

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Canaccord ups CryoLife price target to $23.50

Canaccord Genuity raised its price target for CryoLife (NYSE:CRY) to $23.50 from $17.50 after the company reported third quarter results. The stock is changing hands at $17.10 on Thursday afternoon.

Analyst Jason Mills writes that CryoLife posted a significant earnings beat on solid sales growth, higher gross margins and operating expense leverage flowing through to the bottom line.

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BTIG upgrades NeoGenomics to buy

BTIG upgraded NeoGenomics (NASDAQ:NEO) to “buy” from “neutral,” with a price target of $10, after the company reported third quarter results. The stock closed at $7.13 on Wednesday.

“When we downgraded shares at $9, our view was that a fair amount of good news had been priced into the stock – less draconian cuts to reimbursement, synergy capture of Clarient and continued share gains,” writes analyst Dr. Sean Lavin.

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QLT and Aegerion Pharma to merge

QLT (NASDAQ:QLTI; TSX:QLT) and Aegerion Pharmaceuticals (NASDAQ:AEGR) have entered into a definitive merger agreement, with the resulting company to be renamed, Novelion Therapeutics.

Under the accord, each outstanding share of Aegerion common stock will be exchanged for 1.0256 shares of QLT common stock.

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Canaccord ups GenMark price target to $10.50

Canaccord Genuity has hiked its price target for GenMark Diagnostics (NASDAQ:GNMK) to $10.50 from $8. The stock closed at $9.27 on Wednesday.

After the close yesterday, GNMK announced a major milestone, achieving CE Mark for both its ePlex instrument and ePlex Respiratory Pathogen Panel, which was three weeks ahead of its recent timeline by the end of June.

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Roth ups Celator Pharma price target to $26

Roth Capital Partners has raised its price target for Celator Pharmaceuticals (NASDAQ:CPXX) to $26 from $22, after the company’s Vyxeos drug candidate received breakthrough therapy designation from the FDA. The stock closed at $15.07 on Wednesday

“This is an important next step for Vyxeos on the path to what we believe is likely approval,” writes analyst Joseph Pantginis.

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Dipexium completes enrollment in second Phase 3 trial

Dipexium Pharmaceuticals (NASDAQ:DPRX) has completed patient enrollmentin the OneStep-1 pivotal Phase 3 clinical trial of its Locilex broad-spectrum, topical antibiotic peptide.

Last week, the company reached the enrollment objective in the OneStep-2 pivotal trial.

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Dipexium completes enrollment in one Locilex Phase 3 trial

Dipexium Pharmaceuticals (NASDAQ:DPRX) has completed the patient enrollment objective in the OneStep-2 Phase 3 clinical trial of its Locilex topical antibiotic peptide.

The company’s OneStep-1 Phase 3 clinical trial has passed the 98% enrollment mark and is expected to reach the 180-patient enrollment objective soon.

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