BioCentury on BioBusiness,
Analyst Picks & Changes
Analyst picks & changes
Published on
Monday, July 23, 2012
|
Company
|
Bank
|
Analyst
|
Coverage
|
Opinion
|
Wk
chg
|
7/20
cls
|
|
Infinity
Pharmaceuticals Inc. (NASDAQ:INFI)
|
Piper
Jaffray
|
Edward
Tenthoff
|
Price
target
|
Neutral
|
0%
|
$15.68
|
|
Tenthoff
raised his target to $14 from $11.50 after Infinity regained ex-U.S. rights
to IPI-145, an oral delta and gamma inhibitor of phosphoinositide 3-kinase
(PI3K). Last week, Infinity restructured a 2008 deal with Purdue Pharma
L.P. and its affiliate Mundipharma International Ltd. to regain
rights to its PI3K, fatty acid amide hydrolase (FAAH) and early discovery
programs (see B4). He now values IPI-145 at $250M after adding back
ex-U.S. rights, up from $150M. IPI-145 is in Phase I testing for advanced
hematologic malignancies, with Phase II trials in asthma and rheumatoid
arthritis (RA) slated to start this half.
|
|
Isis
Pharmaceuticals Inc. (NASDAQ:ISIS)
|
Jefferies
|
Eun
Yang
|
Downgrade
|
Underperform
(from buy)
|
-3%
|
$12.97
|
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Yang
maintained her $10 target after a "significant recent run-up" in
Isis shares "despite no significant fundamental events." She
believes the valuation already factors in anticipated positive
recommendations for Kynamro mipomersen to treat homozygous familial
hypercholesterolemia (hoFH) from EMA's CHMP this half and from an FDA
advisory committee in 4Q12. Yang also believes Kynamro consensus estimates
are too high, as she anticipates a slow launch in the EU. She estimates 2013
Kynamro sales of $3.4M in the EU and $10.5M in the U.S. Genzyme Corp. has
exclusive rights to the second-generation antisense inhibitor of
apolipoprotein B-100 (APOB-100) mRNA, which has a Jan. 29, 2013, PDUFA date.
Genzyme is a unit of Sanofi (Euronext:SAN; NYSE:SNY).
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