BioCentury on BioBusiness,
Analyst Picks & Changes
Analyst picks & changes
Published on
Monday, August 20, 2012
|
Company
|
Bank
|
Analyst
|
Coverage
|
Opinion
|
Wk chg
|
8/17 cls
|
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Array
BioPharma Inc. (NASDAQ:ARRY)
|
Leerink
|
Howard
Liang
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Upgrade
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Outperform
(from market perform)
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21%
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$5.50
|
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Liang
also raised his target to $8 from $4 on "promising" Phase II data
for MEK inhibitors selumetinib and MEK126 (formerly ARRY-162). In May, Array
reported Phase II data in patients with mutant K-Ras locally advanced or
metastatic non-small cell lung cancer (NSCLC), showing that second-line
treatment with selumetinib plus docetaxel improved overall survival (OS) vs.
placebo plus docetaxel. Array concurrently reported Phase II data in 29
malignant cutaneous melanoma patients with BRAF V600E mutations showing that
MEK162 produced one confirmed partial response (PR), six unconfirmed PRs and
nine cases of stable disease (see BioCentury, May 21). Selumetinib is
partnered with AstraZeneca plc (LSE:AZN; NYSE:AZN), while MEK162 is
partnered with Novartis AG (NYSE:NVS; SIX:NOVN).
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Elan
Corp. plc (NYSE:ELN)
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Jefferies
|
Corey
Davis
|
Price
target
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Buy
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6%
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$11.72
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149
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686
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