Shares of Regulus Therapeutics Inc (NASDAQ: RGLS) were down almost 48 percent on Tuesday, after the company said Monday the FDA had placed its lead product candidate, RG-101 – for the treatment of hepatitis C virus infection, on clinical hold.
Following the news, Jefferies analysts reiterated a Hold and $96 price target on shares of Gilead Sciences, Inc. (NASDAQ: GILD), which gained about 5 percent on Tuesday. In a note issued late-Monday, the experts believe the impact the event will have on Gilead will be “limited.”
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Although RG101 had revealed potential to shorten the duration of treatment for competitor oral regimens, Jefferies analysts view “HCV price compression and pt. flows as more important NT/MT risks/uncertainties for GILD.”
Having said this, the experts added they would need more details before being able to determine if RG-101 can still move forward. However, they do think “the safety track record and oral administration of Harvoni and other marketed GILD HCV products set a high bar.”
Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.