Company

Bank

Analyst

Coverage

Opinion

Wk chg

5/17 cls

Actelion Ltd. (SIX:ATLN)

UBS

Guillaume van Renterghem

Downgrade

Neutral (from buy)

-2%

CHF58.80

Renterghem said Actelion's share price is almost in line with his CHF61 target and could "enter into a volatile time" ahead of the October PDUFA date for Opsumit macitentan to treat pulmonary arterial hypertension (PAH). Renterghem noted that Actelion has not said whether its discussion with FDA stipulated an advisory committee meeting to discuss the NDA, which he believes would have to be held by July 19 to accommodate the PDUFA date. Opsumit, a tissue-targeting endothelin receptor antagonist, is also under review in the EU for the indication.

Chimerix Inc. (NASDAQ:CMRX)

Cowen

Phil Nadeau

New

Outperform

-1%

$19.78

William Blair

Katherine Xu

New

Outperform

Nadeau said Chimerix is undervalued based "solely" on the potential of its lead product CMX001 to prevent cytomegalovirus (CMV) infection in adults undergoing hematopoietic stem cell transplant (HSCT). Chimerix plans to begin the Phase III SUPRESS trial of CMX001 in the indication in mid-2013, and Nadeau expects a U.S. launch in 2016. CMX001 is an oral lipid acyclic nucleoside phosphonate that delivers high intracellular concentrations of the antiviral agent cidofovir diphosphate. Nadeau projects $330M in 2019 worldwide sales in HSCT alone. Chimerix raised $117.9M in an April IPO.